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China and US would dictate prices in AUD/USD – OCBC Bank

FXStreet (Edinburgh) - Emmanuel Ng, FX Strategist at OCBC Bank, observed the price action of the AUD/USD will highly hinge on releases from the Chinese economy and the USD performance.

Key Quotes

“The RBA’s Stevens speaks on Thursday while on Wednesday, the central bank’s Financial Stability Review is due”.

“In the interim, expect global macro/China/USD cues to remain in control of the Aussie’s rudder, with any rallies into 0.9000 likely to be met with selling interest while support may be expected on approach of 0.8890”.

“On other fronts, the NZD-USD blipped higher slightly following the weekend general elections saw PM John Key being returned to office (with a single party majority to boot) for his third term”.

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