AU$ building a base

Finport Currency Brief - Courtesy of Compass Global Markets.

Good morning all;

AUDUSD: We've had a rather subdued start to the week as the Reserve Bank's minutes from their most recent meeting suggest interest rates are to remain on hold at 1.50% and as most of SE Asia remains on holiday. Focus is on the US federal reserves own minutes that come tomorrow morning and with China still celebrating Spring festival the A$ should hang around here today.

AUDEUR: German Business sentiment data was better than expected and has ensured this pair remains below 64c. We do have a string of second tier EU data to come this evening which may well give those looking to fill invoices above 0.64c their chance.

AUDGBP: Continues my forecast 0.56p-0.57p range as we await UK earnings data this evening, the UK Inflation Report overnight and their GDP economic release tomorrow. All and each of which has the potential to see this pair in a decidedly different place over the next couple of days. I'd suggest placing orders at your respective end of the range and perhaps a "flyer" outside of that just in case.

Jim Devonport


M: 0415 066 468




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