FXStreet (Edinburgh) – Emmanuel Ng, FX Strategist at OCBC Bank, expects the Aussie dollar to gyrate around the 0.73 handle for the time being.
Key Quotes
“The AUD-USD was tripped slightly following the larger than expected October trade deficit this morning (not to mention the lower than expected November AiG services index)”.
“Going into the ECB today and the US NFP tomorrow, it remains to be seen if the still decaying commodity complex will finally exert its typical influence on the Aussie in due course”.
“In the interim, the pair may consolidate in the neighborhood of 0.7300 following its recent run-up within 0.7250-0.7350”.
(Market News Provided by FXstreet)