5 May 2014
A resilient Aussie faces risk events this Monday - Arab Bank
FXStreet (Bali) - After Friday's abrupt rebound off 0.92 following a strong NFP number in the US, the AUD/USD will face further risk events on Monday, with Aus building approvals and China's HSBC PMI, the main movers, notes David Scutt, Treasury Dealer at Arab Bank.
Key Quotes
"Having fallen as low as .9203 following the US non-farm payrolls release, the AUDUSD has continued its impressive recovery this morning with the pair currently fetching .9293."
"With hopes for the Chinese economy now building in light of data released on Saturday, it’ll take a raft of weak domestic data, particularly from building approvals, to knock the Aussie lower today."
"Support is found at .9280 and .9250 with resistance kicking in above .9313 and again at .9336."
Key Quotes
"Having fallen as low as .9203 following the US non-farm payrolls release, the AUDUSD has continued its impressive recovery this morning with the pair currently fetching .9293."
"With hopes for the Chinese economy now building in light of data released on Saturday, it’ll take a raft of weak domestic data, particularly from building approvals, to knock the Aussie lower today."
"Support is found at .9280 and .9250 with resistance kicking in above .9313 and again at .9336."