USD Trading Outlook (14-10-2013)
The AUD has opened lower in Asia after much poorer than expected China trade data which was released over the weekend. The market had expected a 6.0% YoY increase but got a fall of 0.3% YoY instead. The AUD/USD has ‘only’ fallen by 50 pips on the back of this which suggests that the market is not long and there are not very many stops on the downside. The talks in Washington regarding a solution to their debt-ceiling impasse keep dragging on and this will also weigh on risk trades and of course on the USD. Chinese CPI data is the highlight of today’s economic calendar.
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