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AUD remains the market’s darling – BBH

FXStreet (Delhi) – Research Team at BBH, suggests that the Australian dollar remains the market's favorite.

Key Quotes

“It is the only major currency to have gained against the greenback over the past month (~2.5%). A little more than half of that has been recorded this week (~1.4%). It has been aided by the RBA's recognition of improvement in the non-mining part of the economy, and some improving data, including Q3 GDP (0.9% vs 0.8% consensus), rising exports, and building approvals.”

“We continue to view the upticks as corrective in nature. It has approached technical resistance near $0.7350. A break of this area, which seems unlikely today, barring a disappointing ADP estimate in the US, could spur a move toward $0.7400 were stronger offers are thought to lay.”

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