13 Jan 2015
AUD/USD weighed upon although above the pivot
FXStreet (Guatemala) - AUD/USD is currently trading at 0.8156 having printed a high 0.8161 of and a low of 0.8154, on changed on the Asian open so far.
AUD/USD has been caught up with the performances of commodities and lacks conviction on attempts to the upside, having plummeted back down through the bullish opening gap overnight.
Over the US session, the pair started to stabilise around 0.8160 but that was only after making lows at 0.8130 and over a quick cent lower to the downside. Crude oil was falling back again which knocked the US natural gas down -4.75%, weighing on energy stocks and left spot iron ore printing down by -1.2% to $70.30/tonne.
The Aussie calendar is quiet today while we await the jobs data later in the week, however ahead today, we get the Chinese December trade report. "The trade surplus is likely to remain huge (median $49bn versus $54.5bn in Nov), supported by weakness in commodity prices which cuts the value of imports (expected to be close to Nov’s -6.7% y/y reading). The volume of imports is more open to debate; it probably held up fairly well. Exports will be noted closely as always (median 6.0% y/y after 4.7% y/y in Nov)"- Westpac.
AUD/USD has been caught up with the performances of commodities and lacks conviction on attempts to the upside, having plummeted back down through the bullish opening gap overnight.
Over the US session, the pair started to stabilise around 0.8160 but that was only after making lows at 0.8130 and over a quick cent lower to the downside. Crude oil was falling back again which knocked the US natural gas down -4.75%, weighing on energy stocks and left spot iron ore printing down by -1.2% to $70.30/tonne.
The Aussie calendar is quiet today while we await the jobs data later in the week, however ahead today, we get the Chinese December trade report. "The trade surplus is likely to remain huge (median $49bn versus $54.5bn in Nov), supported by weakness in commodity prices which cuts the value of imports (expected to be close to Nov’s -6.7% y/y reading). The volume of imports is more open to debate; it probably held up fairly well. Exports will be noted closely as always (median 6.0% y/y after 4.7% y/y in Nov)"- Westpac.