The AUD/USD opened at $0.7762 and early dealings saw the rate climb to $0.7791 as risk sentiment improved a bit. A lower start to some of the region’s main stock markets put a dampener on things and aussie-dollar slipped back to $0.7774. The release of RBA’s private sector credit and Q$ PPI data inspired a muted response from the market, with the aussie climbing back off $0.7766 after the data. It traded near $0.7790 for the next few hours amid a lack of any fresh news and then slipped back to $0.7762. Dealers said the market was watching a TV interview of RBA watcher Terry Mccrann for hints on the RBA’s thinking ahead of next week’s policy meeting. Mccrann wrote an article this week that the RBA was likely to cut rates and this was partly blamed for the aussie’s declines this week. Mccrann however said in the interview he doesn’t know absolutely what the RBA would do and aussie-dollar popped back up as the market took back positions. Aussie-dollar stayed supported for the rest of the day and last traded at $0.7791.
