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16 Apr 2014
AUD/USD hinging on China and risk appetite – OCBC
FXStreet (Barcelona) - Emmanuel Ng, FX Strategist at OCBC Bank, signals the Chinese economy and risk trends as the main factors behind the AUD/USD price action...
Key Quotes
"Having failed to run the red lights at 0.9400 for the past week, the AUD-USD may remain hostage to sentiment surrounding the prognosis towards the Chinese economy and global risk appetite levels. Support is expected on approach of the 0.9275 to 0.9300 region."
"Elsewhere, cracks continue to appear for the NZD with softer than expected 1Q CPI numbers resulting in the NZD-USD taking a spill late Tue/early Wed. In a nutshell, excessive positive appetite towards the antipodeans may well pause in the interim."
Key Quotes
"Having failed to run the red lights at 0.9400 for the past week, the AUD-USD may remain hostage to sentiment surrounding the prognosis towards the Chinese economy and global risk appetite levels. Support is expected on approach of the 0.9275 to 0.9300 region."
"Elsewhere, cracks continue to appear for the NZD with softer than expected 1Q CPI numbers resulting in the NZD-USD taking a spill late Tue/early Wed. In a nutshell, excessive positive appetite towards the antipodeans may well pause in the interim."