1 Aug 2013
Flash: AUD/USD remains on slippery slope - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that AUD continued to underperform across G10 space with better than expected June private sector credit numbers failing to offer any support.
Key Quotes
“Although some interim support may be had from the better than expected China PMI, a market pregnant with rate cut expectations for next week’s RBA meeting may continue to keep the aussie on a slippery slope.”
“If the pair fails to hold above 0.9000, 0.8930 may loom fairly rapidly and the next support of significance thereafter is only expected towards 0.8760.”
Key Quotes
“Although some interim support may be had from the better than expected China PMI, a market pregnant with rate cut expectations for next week’s RBA meeting may continue to keep the aussie on a slippery slope.”
“If the pair fails to hold above 0.9000, 0.8930 may loom fairly rapidly and the next support of significance thereafter is only expected towards 0.8760.”