Finport Currency Brief - Courtesy of Compass Global Markets.
Good morning all;
AUDUSD: Has popped through 0.80c, but with better than expected US data plus news Apple will be buying nearly US$40 billion to pay a tax bill we have also had a dip back lower as forecast. Focus is now on today's domestic Unemployment data and Chinese GDP. Both have the potential to see a sharp correction in either direction so be prepared. Further out I see this upward trend continuing, with 0.8150 as an initial target.
AUDEUR: We got my predicted bounce here as the A$ continues it's march on the Apple news and on some conflicting statements from EU central bankers. This move may have some leg's so importers should take note.
AUDGBP: Has flat lined as both currencies trade a similar pattern against the US$, but this price action could easily break today. Short to medium term direction really is data dependant, so placing orders at your chosen levels is the best way to go.
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