OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD back to 0.8700

FXStreet (Edinburgh) - The Aussie dollar is wobbling around 0.8700 the figure on Thursday, with AUD/USD coming down from overnight peaks near 0.8730.

AUD/USD hurt by Kent

Spot briefly visited session lows around 0.8670 on dovish appreciations by RBA Assistant Governor Kent, after he did not rule out ‘FX intervention’ during the Q&A session following his speech today. Data wise in Oz, Consumer Inflation Expectation rose 4.1% in October, surpassing the previous 3.4% advance. In China, industrial Production and Retail Sales figures came in slightly below consensus in October, expanding 7.7% and 11.5% YoY. Sean Callow, Strategist at Westpac, noted “AUD/USD has a large buff er above the 4 year lows in the mid-0.85s. A quiet local calendar should keep ranges fairly tight”.

AUD/USD levels to watch

As of writing the pair is retreating 0.16% at 0.8704 with the next support at 0.8672 (low Nov.12) ahead of 0.8600 (psychological level) and then 0.8540 (2014 low Nov.7). On the upside, a breakout of 0.8763 (high Nov.5) would expose 0.8854 (high Oct.31) and finally 0.8870 (50-d MA).

GBP hit hard, to weaken further – Danske

The Danske Research Team notes the dovish November Bank of England (BoE) inflation report hitting the GBP hard, and sees it weakening further against the Dollar, while NOK climbs following higher-than expected October CPI print.
Read more Previous

UK: Encouraging signs – ING

James Knightley, Senior Economist at ING sees the risks skewed towards a slightly earlier policy tightening.
Read more Next
Start livechat