OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: AUD/USD looks to target 1.0400 – Westpac

FXstreet.com (Barcelona) - According to Global FX Strategist Sean Callow at RBS, “The rapid rebuild of spec long AUD positions since early March hints at waning confidence in broad USD measures. Commodity prices remain mostly unhelpful for AUD – local data will need to beat expectations for the AUD/USD to spend much time above 1.0500, with 1.0400 handle more comfortable.”

With regards to the AU outright, the AU rates market were left unchanged, whilst maintaining their easing bias, it was not surprising to see little reaction following no change. This means the recent range-trading environment remains in place. Finally, the AU curve (3-10-year) has been bull flattening on the back of long-end demand for ACGBs, as investors look to enter into AU outperformance trades (mostly relative to US). This has pushed the curve to the bottom of its recent range 50-63bp range, and it is beginning to look attractive for a tactical steepening trade.

Forex: USD/JPY declines from highs

The USD/JPY is currently retreating from daily highs at 93.55 to trade close to 93.25. Previously, the pair recovered from 92.55, the lowest level since March 1st, to post daily advances at 93.55.
Read more Previous

Forex: GBP/USD extends decline and tests the 1.5100

The Sterling is currently extending its decline against the greenback and after consolidating between 1.5110 and 1.5120, the GBP/USD is falling further to test the 1.5100 frontier. Currently the pair is trading at 1.5105.
Read more Next
Start livechat