USD Trading Outlook (05-05-2014)
The Australian Dollar (AUD): A much better than expected NFP number ripped the AUD/USD lower to test support near the April low. A low of 0.9203 was made and no further losses were seen as the market took a look at the internals of the jobs data and decided the report wasn’t the game changer to what the market was looking for. The pair rallied to a high of 0.9275 and little pullbacks were seen. A fairly active week for the AUD, with the RBA rate decision (unchanged f/c), employment and the RBA’s MPS.
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