USD Trading Outlook (19-08-2013)
It’s been a quiet start to the trading week with the AUD/USD sitting quietly near .9185. There are opposing factors at play in the AUD market; rising US yields and falling global equity markets are AUD-negative but sharp rises in metals markets and a steadying of Chinese economic data are AUD-positive signals. The fact remains that the AUD market is still very short and unless some very bad news happens prior to the general election we are likely to see this period of .90/.93 consolidation continue with definite top-side risk. There is nothing of note on today’s economic calendar.
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