USD Trading Outlook (24-04-2014)
The Australian Dollar (AUD): The pair did not manage to bounce back much after the CPI drop. Bears are encouraged by the Aus forward short rates, which continued to grind lower despite the recent concern about inflation. However, investors should also take into account the fact RBA did say to keep rates steady for awhile therefore, next RBA meeting should bring a lot of attention on whether Governor Steven will act on this poor CPI data.
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