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forexchief

COZfx: AUD/USD trading flat, near 2-month lows

Discussion in 'Analisa Fundamental' started by harryer, Nov 14, 2013.

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  1. harryer

    harryer Member

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    COZforex: The Australian dollar was almost unchanged against its US counterpart on Wednesday, hovering near 2 months lows after mixed Australian data as expectations for the Federal Reserve to soon scale back its stimulus program lent support to the greenback.

    AUD/USD hit 0.9286 amid late Asian trade, the session low; the pair subsequently consolidated at 0.9296, easing 0.05%. The pair is expected to find support at 0.9268, and a fall through could take it to the next support level of 0.9232. The pair is expected to find its first resistance at 0.9341, and a rise through could take it to the next resistance level of 0.9378.
    LME Copper prices declined 0.2% or $11.0/MT to $7124.0/MT. Aluminium prices fell 0.3% or $5.5/MT to $1755.0/MT.

    The Westpac Banking Corporation said consumer sentiment rise 1.9% in November, after a 2.1% decline the previous month.

    A separate report showed that wage prices rise 0.5% in the third quarter, disappointing expectations for a 0.7% increase, after a 0.7% rise in the 3 months to June.

    Meanwhile, the greenback remained supported after last week’s stronger than forecast US nonfarm payrolls report prompted investors to bring forward expectations for a reduction in the Fed’s USD85 billion-a-month asset purchase program.


    (COZ forex UK)
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