Aussie weakens as RBA lowers growth outlook; traders eye UK trade balance data today
City Index August 9, 2013 2:04 PM
<p>The RBA has lowered its growth outlook as the Australian economy transitions from the mining sector. This has caused AUD to weaken in the night […]</p>
The RBA has lowered its growth outlook as the Australian economy transitions from the mining sector. This has caused AUD to weaken in the night session but Chinese inflation being muted and leaving room for extra stimulus has given it a push back up to the day’s high. In Japan we heard that the debt has exceeded 1 quadrillion yen, which makes Abe now mull over the idea of the sales tax rise to be pushed through.
A very dull day in the way of figures to be released, with the only one of interest being the GBP trade balance, expected at -8.4b. The market will be looking for a continuing of strong data to keep GBP on the up.
Supports 1.3375 1.3345 1.3300 | Resistance 1.3400 1.3415 1.3445
Supports 95.80 95.45 94.80 | Resistance 97.00 97.25 97.55
Supports 1.5520 1.5465 1.5435 | Resistance 1.5585 1.5645 1.5725
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