AUD continues to slide against US dollar as losses continue overnight
City Index January 17, 2014 2:32 PM
<p>The Aussie is continuing its run of bad form of late, with more losses yesterday and overnight. We are now at the 0.8800 level and […]</p>
The Aussie is continuing its run of bad form of late, with more losses yesterday and overnight. We are now at the 0.8800 level and getting closer to where the RBA would like to see AUD at 0.8500.
The euro and GBP have struggled this morning against the greenback, falling 20 points so far. USD is keeping the bid tone going for most of the week now leading up to the US bank holiday on Monday, with tapering expected to carry on as normal and disregarding any weak data – notably the non-farm payrolls from last Friday. Today’s US data is building permits and UoM consumer sentiment.
UK retail sales are out today and are expected to increase from previous figures. I think we would need a large rise to get GBP back in its upward trend. A weaker than expected figure could see the GBP fall as it seems very vulnerable.
Supports 1.3565 1.3550 1.3525 | Resistance 1.3625 1.3650 1.3700
Supports 104.10 103.90 103.45 | Resistance 104.50 105.00 105.50
Supports 1.6290 1.6270 1.6220 | Resistance 1.6350 1.6370 1.6400
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