The Market In Brief:
Market Events Due:
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AUD/USD: The AUD opens this morning at fresh 3 week highs after a lack of domestic data yesterday meant the FOMC Dovish comments were the driving force for this pair. Low inflation levels and a slowing China appear to be pushing the Fed hike into the new year causing the Greenback to depreciate across the board. Domestically we have home loans data out today and a good number could push the AUD higher to close the week out at new highs.
AUD/GBP: BOE voted to keep rates unchanged at record lows of 0.5% citing that low inflation is an obstacle to returning to higher interest rates. Sterling fell immediately after the comments however did recover some losses after the Dovish FOMC comments and opens this morning lower against AUD.
AUD/NZD: The FOMC comments ensured the good week for NZD continued and with no domestic data it will again be overseas events that decides the next move for NZD.
AUD/EUR: A volatile few days for the EUR as poor Eurozone data put downward pressure on the common currency only for Dovish FOMC comments to claw back some of the losses. Tonight will see French and Italian Industrial production data released although it is not expected to cause any surprises and influence a sizable move for the EUR.
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