It’s been an uninteresting session for the Aussie today, at the start of what is expected to be a lively week ahead, especially with the RBA decision due tomorrow. The aussie started at $0.9247 today after failing to break through $0.9300 last Friday, and peaking at $0.9295. Aussie-dollar initially held a $0.9247 to $0.9259 range and showed no major reaction to the release of TD-MI inflation gauge. Aussie-dollar however broke lower soon after Japanese stocks opened, and as the US dollar started to chalk up gains vs the Chinese yuan in offshore markets. Aussie-dollar fell to $0.9234 but was hoisted up again after the release of RBA’s private sector credit data, to re-visit the earlier $0.9259 high. The gains again fizzled out and aussie-dollar retraced back to $0.9230 in the late morning, and was last at $0.9233. Aussie-dollar currently still trappedby decent 2-way interest on either side of the market, bids and stops seen at $0.9225/20 and $0.9200, while offers are at $0.9290 and $0.9300.
