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Forex Flash: AUD retains underlying bid tone - NAB

FXstreet.com (Barcelona) - The rally of the AUD/USD is facing strong resistance below 1.0500. “We would note solid importer demand over the past day or so with more interest above 1.0500,” say analysts at the National Australia Bank. According to them the Australian Dollar retains an underlying bid tone, “although the currency is on the backburner as the market watches for more news out of Europe.”

Forex: AUD/USD sleeping around 1.0480

In a very slow Asian market start, with Nikkei index is down -0.21% below the 12500 points mark, after a slightly positive open, AUD/USD is last at 1.0482, off session lows at 1.0470. Australian ASX index trades in the positive, higher for the session by +0.3%, following the RBA Financial Stability review just released. “Banks better placed after changes to funding mix Australian bank activity in Asia is likely to expand Global financial conditions improved significantly,” commented ForexLive editor Eamonn Sheridan on the review.

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Forex Flash: General flows out of USD appears month end related - RBS

“We are approaching the Easter holidays and month and fiscal year end for some,” notes FX Trading Strategist at RBS Greg Gibbs. “It may have been the case that the USD has been weaker than usual into this book closing period,” he adds, expanding: “Our desk reports general flows out of the USD that appears month end related. However, they also report that these flows appear now to be abating or becoming more evenly matched.”
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