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22 Oct 2013
AUD/USD makes its way to 0.9660
FXstreet.com (Edinburgh) -The Aussie dollar is now attempting to regain levels beyond 0.9660, with the AUD/USD easing from multi-month peaks near 0.9690.
AUD/USD no data in Oz, eyes on NFP
The only release of relevance for the AUD this week will be the inflation figures due tomorrow, where consensus expects consumer prices to have expanded at an annual pace of 1.8% during the third quarter, down from Q2’s 2.4%. Annette Beacher, researcher at TD Securities, commented “The government is introducing legislation to lift Australia’s debt ceiling from $A300b to $A500b to allow for a significant fresh buffer for future borrowings. Completely as expected since the May Budget was passed. It will pass into law, with maybe a bit of grumbling, unlike the recent US experience. $A500b right now is equivalent to 30% of GDP, on par with commodity currency stable mate NZ”.
AUD/USD levels to watch
As of writing the pair is up 0.06% at 0.9661 with the next resistance at 0.9680 (high Oct.18) ahead of 0.9758 (MA200d) and then 0.9765 (high Jun.4). On the flip side, a break below 0.9604 (low Oct.18) would expose 0.9536 (MA10d).
AUD/USD no data in Oz, eyes on NFP
The only release of relevance for the AUD this week will be the inflation figures due tomorrow, where consensus expects consumer prices to have expanded at an annual pace of 1.8% during the third quarter, down from Q2’s 2.4%. Annette Beacher, researcher at TD Securities, commented “The government is introducing legislation to lift Australia’s debt ceiling from $A300b to $A500b to allow for a significant fresh buffer for future borrowings. Completely as expected since the May Budget was passed. It will pass into law, with maybe a bit of grumbling, unlike the recent US experience. $A500b right now is equivalent to 30% of GDP, on par with commodity currency stable mate NZ”.
AUD/USD levels to watch
As of writing the pair is up 0.06% at 0.9661 with the next resistance at 0.9680 (high Oct.18) ahead of 0.9758 (MA200d) and then 0.9765 (high Jun.4). On the flip side, a break below 0.9604 (low Oct.18) would expose 0.9536 (MA10d).