USD Trading Outlook (18-04-2014)
The Australian Dollar (AUD): The pair opened in NY session around 0.9345, 25-30 pips vs last night’s close. Sydney traders noted strong demand for AUD/JPY which drove the pair up high but a large offer ahead of 94 cents capped the rally. Better than expected U.S data, had the AUD dragged down to 0.9322. AUD/USD weakness was a bit of a surprise as US equities reversed early losses, head to the close +0.06/0.31% and given recent bias, AUD/USD a prime “buy dips” candidate.
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