USD Trading Outlook (30-10-2013)
Not unexpectedly, Glenn Stevens did his best to talk down the AUD/USD yesterday and this had quite far-reaching repercussions. The market initially targeted stops in the AUD/USD below .9510 and this also put pressure on other pairs like GBP/USD, which gapped sharply lower when stops were tripped below 1.6100. Everything is somehow related in the FX market. There are no major events on today’s economic calendar but we should get some movement as traders adjust positions ahead of the Federal Reserve meeting.
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