Aussie slides on RBA rate decision; UK PMI data expected to signal further recovery
City Index November 5, 2013 1:42 PM
<p>Overnight the markets are still in tight ranges, with AUD/USD having had the biggest fall on comments from the RBA that the Aussie is ‘uncomfortably […]</p>
Overnight the markets are still in tight ranges, with AUD/USD having had the biggest fall on comments from the RBA that the Aussie is ‘uncomfortably high’. The RBA still kept rates at record lows at 2.5%.
Today UK services PMI will be released and is expected to come in at 60.4 so the markets will be looking for continued strong data and recovery from this. From the US, ISM non-manufacturing PMI is expected at 54.2 so is still above the growth mark of 50.
USD is expecting to be consolidating until important data releases on Thursday and Friday this week, with GDP and NFP expecting weaker data due to the government shutdown last month, which will in turn push the tapering question back another month. There’s also the GBP rate decision and EU rate decision on Thursday as well, so we are looking at a very volatile end to this week.
Supports 1.3490 1.3450 1.3440 | Resistance 1.3525 1.3555 1.3585
Supports 98.20 97.80 97.50 | Resistance 98.80 99.00 99.20
Supports 1.5935 1.5890 1.5850 | Resistance 1.5980 1.6050 1.6100
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