USD Trading Outlook (10-04-2014)
The Australian Dollar (AUD): Offers protected the 0.9400 barrier twice and slid back to a low of 0.9348 in NY session. The FOMC minutes came in relatively dovish and US bond yield gave up earlier gains while USD went broadly offered. AUD/USD made another strong push and hit a 0.9399 high. The barrier was kept safe but only slight pullbacks were seen as the USD remained weak. Market will now be focusing on today’s Oz jobs data for March and China trade balance. A solid reading will once again boost up the AUD and barrier may be cleared.
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