Opened in Asia at $1.0310 and after early lows of $1.0296 headed higher on demand from Funds and CTA’s, bolstered by stronger ANZ job ads data, NAB business conditions and AUD/JPY demand into the Tokyo fixing. Stops were taken out through $1.0335, and $1.0350 following strong Chinese trade data to a day’s high of $1.0357, before easing back on AUD/JPY sales. The move lower prompted by no change from the BOJ in rates and its asset purchasing program, as AUD slipped to $1.0308 before settling around $1.0310/15. AUD/JPY bounced from early lows of Y83.93 to Y84.63 before falling back post BOJ to Y84.04. EUR/AUD fell back from early highs of A$1.2732 to A$1.2691 but later rallied to a day’s highs of A$1.2737. AUD/NZD pushed up from early lows of NZ$1.2539 to NZ$1.2588 on the ANZ/NAB and Chinese data. but later eased back to NZ$1.2555 before balancing around NZ$1.2570. AUD offers now lie from $1.0355/65 and $1.0390/00 with bids $1.0295/05, stops down through $1.0280 ahead of further bids at $1.0255/65.
EasyForexNews Research Team