Hi Guys
I am always monitoring the Australian Dollar, important to me as I am playing in the US market.It seems to have bounced back from around 65 some months back.
Here is an update:
AUD/USD
Showed little change for a second consecutive week as both countries reported mixed economic numbers. The rate began the week consolidating on Monday in the absence of any significant economic data out of either country. The pair then gained sharply on Tuesday after a lower than expected U.S. CB Consumer Confidence number. On Wednesday, the rate made its weekly high of 0.7708 after Australian CPI increased +0.7% q/q versus an expectation of +0.5%, while Trimmed Mean CPI increased +0.4% as was widely anticipated. The pair then sold off on Thursday after the United States reported mixed Durable Goods Orders and Pending Home Sales data. The rate gained a fraction on Friday after it made its weekly low of 0.7557 after Australian PPI increased +0.3% q/q versus +0.6% anticipated, which brought the rate to close at 0.7596, with an overall decline of just -8 pips and virtually unchanged on the week.
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