3 Feb 2015
AUD/USD traders sidelined ahead of RBA
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7806 with a high of 0.7809 in Asia and low of 0.7788.
AUD/USD has seen a number of data releases ahead of the grand showdown that will be the RBA, and most likely, the largest event ahead of the Nonfarm payrolls at the end of the week. Meanwhile, the data available for those willing enough to trade around news ahead of the RBA comes with improved building permits vs consensus and trade balance and puts the pair back onto the 0.78 handle.
Australia's trade balance arrived at -436M for the month of December, beating expectations of -775M and the building permits (MoM) came in at -3.3% for the same month, and again was above the expectations that were5%. Over to the RBA...its 50/50 as to whether the Bank will indeed act and should they do so, it will confirm the bears beliefs and give them the green light to target the RBA's ideal rate, yet now to be disclosed due to continuing economic developments, but 0.7500 was sighted as a preferential level, but that was before the recent softness and continuation in fact of declining commodity prices.
AUD/USD has seen a number of data releases ahead of the grand showdown that will be the RBA, and most likely, the largest event ahead of the Nonfarm payrolls at the end of the week. Meanwhile, the data available for those willing enough to trade around news ahead of the RBA comes with improved building permits vs consensus and trade balance and puts the pair back onto the 0.78 handle.
Australia's trade balance arrived at -436M for the month of December, beating expectations of -775M and the building permits (MoM) came in at -3.3% for the same month, and again was above the expectations that were5%. Over to the RBA...its 50/50 as to whether the Bank will indeed act and should they do so, it will confirm the bears beliefs and give them the green light to target the RBA's ideal rate, yet now to be disclosed due to continuing economic developments, but 0.7500 was sighted as a preferential level, but that was before the recent softness and continuation in fact of declining commodity prices.