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USD Trading Outlook (08-04-2014)

The Australian Dollar (AUD): Offers ahead of 0.9300-0.9310, both Europe and NY session continued to add pressure for the pair. Soft equity futures and some short covering in USD against emerging currencies weighed on AUD and saw the pair slide to a low of 0.9254. With little major data due until Thursday Oz jobs data, AUD/USD may hold the 0.9200/0.9310 range. March NAB business confidence is due later, a weak data may press the AUD/USD lower as some weak bulls might unwind ahead of the jobs data.

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