Opened in Asia at $1.0355 recovering from NY lows of $1.0338, but failed to match the euro’s rally as EUR/AUD buying led the cross back up sharply from A$1.2572 to A$1.2691. This morning’s Far Eastern session has been relatively quiet after early highs of $1.0364. The pair eased to around $1.0345 ahead of the RBA minutes and then slipped to lows of $1.0324 as the minutes produced no fresh incentives and the EUR/AUD headed up to A$1.2701. A rate cut at the next meeting now looks increasingly likely barring a hiccup in next week’s CPI data. Bids from option names lie down at $1.0310 ahead of a presumed barrier and stops are set on a break of $1.0300. Offers start from $1.0370/85 which encompasses the 200 day MA. AUD/JPY slipped to Y83.05 from Y83.35 to almost match the NY lows of Y83.02. Talk of stops now in place on a break of Y83.00. Aussie-kiwi pushed up from NZ$1.2620 to NZ$1.2670 on the RBA minutes release before settling around NZ$1.2650
EasyForexNews Research Team