21 Aug 2013
Flash: AUD/USD defensive ahead of FOMC - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that AUD/USD fell through the 0.9100 floorboard post the RBA minutes and the NZD/USD also lost its grip on the 0.8000 handle after the RBNZ’s housing lending move.
Key Quotes
“Regarding the RBA, note that the reported meeting minutes took a slightly more dovish slant (we think precautionary rather than discreetly dovish) relative to the initial meeting statement on 06 Aug 13 and this may keep the AUD on the defensive ahead of the FOMC minutes tonight.”
“In the interim, expect the AUD/USD to remain hemmed in by the 55-day MA 90.9207) up top while 0.9000 may continue to serve as a psychological support pending further cues.”
Key Quotes
“Regarding the RBA, note that the reported meeting minutes took a slightly more dovish slant (we think precautionary rather than discreetly dovish) relative to the initial meeting statement on 06 Aug 13 and this may keep the AUD on the defensive ahead of the FOMC minutes tonight.”
“In the interim, expect the AUD/USD to remain hemmed in by the 55-day MA 90.9207) up top while 0.9000 may continue to serve as a psychological support pending further cues.”