1 Jul 2013
AUD/USD trading at overnight highs
FXstreet.com (New York) - The AUD/USD foreign exchange rate has jumped out of the gates early, notching healthy advances after Australian data during Asian trading.
In Australia, the AiG Performance of Mfg Index (June) came in at 49.6, compared to a previous figure of 43.8. According to the NAB Research Team, “The RBA meets on Tuesday with little expectation of a rate cut. Ultimately, while the RBA retains its easing bias, it is unlikely to cut again unless we see a further deterioration in the outlook, or there are clear signs that the May cut has failed to provide any boost to confidence or activity.”
AUD/USD advancing steadfastly
Following the recent uptick, the AUD/USD is now trading at 0.9144, establishing session highs in these moments en route to a +0.32% gain thus far. Mataf.net analysts point to additional resistances at 0.9318, then 0.9391.
In Australia, the AiG Performance of Mfg Index (June) came in at 49.6, compared to a previous figure of 43.8. According to the NAB Research Team, “The RBA meets on Tuesday with little expectation of a rate cut. Ultimately, while the RBA retains its easing bias, it is unlikely to cut again unless we see a further deterioration in the outlook, or there are clear signs that the May cut has failed to provide any boost to confidence or activity.”
AUD/USD advancing steadfastly
Following the recent uptick, the AUD/USD is now trading at 0.9144, establishing session highs in these moments en route to a +0.32% gain thus far. Mataf.net analysts point to additional resistances at 0.9318, then 0.9391.