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Forex Flash: AUD/USD vulnerable even if RBA holds - NAB

Since the AUD has been trading heavy even with the market scaling back expectations for a rate cut from the RBA tomorrow (just 17%), NAB thinks that anticipated RBA rate inaction tomorrow might produce only a small short-lived rebound in the AUD, before weakness kicks in again, "especially if the RBA makes clear scope to ease policy remains very much in place" NAB said. The bank looks for "AUD/USD to spend more time trading on a 1.01 than 1.02 handle this week."

Forex: AUD/USD weak below 1.02 post worst China non-manufacturing PMI in 5 months

With Iron ore barely above the $150/tone mark, around 1-month lows, and USD index above the 82.2, 6-month highs, AUD/USD opens the week slightly to the downside, last at 1.0197 bids, off fresh Friday's 4-month lows at 1.0180, on the back of a stronger USD across the board. China non-manufacturing PMI came in during the weekend, showing lowest result in 5 months at 54.5, when previous was 56.2.
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