AUD/USD rises on positive Chinese GDP data
City Index January 20, 2014 2:03 PM
<p>Overnight the awaited GDP data for China was released, with no shocks and slightly better than expected figures. This gave the Aussie some support from […]</p>
Overnight the awaited GDP data for China was released, with no shocks and slightly better than expected figures. This gave the Aussie some support from its recent declines. An earthquake in New Zealand’s capital had a negative effect on NZD/USD overnight, making it the biggest move on the Asian session.
Today is a US holiday so no data out from the United States and there’s nothing set to be released from Europe or the UK either. This sets us up for a subdued day in the FX markets. More action is expected next week, with the FOMC build up to more tapering.
Supports 1.3565 1.3550 1.3525 | Resistance 1.3550 1.3580 1.3620
Supports 103.90 103.60 102.90 | Resistance 104.50 105.00 105.50
Supports 1.6400 1.6375 1.6310 | Resistance 1.6520 1.6570 1.6610
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.