The Market In Brief:
Market Events Due:
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AUD/USD: The Aussie opens higher again this morning building on last week’s momentum and a weaker Greenback. The weak economic data out of the states combined with the RBA leaving rates at 2% has assisted the AUD to levels not seen since August. A very light day of economic data and with numerous global bank holidays the AUD is expected to trade in a tight range throughout the domestic session.
AUD/NZD: The Kiwi was another currency to enjoy a strong week, climbing to near 7 week highs off the back of a weaker US dollar. The market is now waiting for further rate guidance from the RBNZ with any indication that there will not be a cut any time soon sure to boost the currency further.
AUD/GBP: Weaker than expected construction and trade balance data has put a halt to Sterling’s recent ascent. The Pound had been trading at near 3 week highs until the data and opens this morning lower against both the AUD and NZD.
AUD/EUR: The Euro also benefited from a weaker US dollar as well as positive Euro zone data. There is little data of note today so all eyes will be on the FOMC comments to direct this currencies next move.
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