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4 Jun 2015
AUD/USD dumped 50 pips on poor data
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7717 with a high of 0.7780 and a low of 0.7708.
AUD/USD had moved lower by 30 pips right from the off and continues on, currently down 50 pips and close to half a cent at time of writing. This move came on the back of the trade figures and retail sales coming out and missing expectations. Retails were down to 0.0% vs 0/45 expected while Trade came as a huge -3,888m vs -2,250m and worst deficit since 1995.
The Aussie had otherwise been robust and rising as a strong performer since the RBA left rates on hold recent and with GDP Q1 beating expectations. Technically, Karen Jones, chief analyst at Commerzbank had been seeing the upside as a near term rebound ahead of further losses to the 0.7534 April low. "Beyond here lies the base of the 2 year down channel at 0.7390."
AUD/USD had moved lower by 30 pips right from the off and continues on, currently down 50 pips and close to half a cent at time of writing. This move came on the back of the trade figures and retail sales coming out and missing expectations. Retails were down to 0.0% vs 0/45 expected while Trade came as a huge -3,888m vs -2,250m and worst deficit since 1995.
The Aussie had otherwise been robust and rising as a strong performer since the RBA left rates on hold recent and with GDP Q1 beating expectations. Technically, Karen Jones, chief analyst at Commerzbank had been seeing the upside as a near term rebound ahead of further losses to the 0.7534 April low. "Beyond here lies the base of the 2 year down channel at 0.7390."