AUD,NZD/FXWW News/Open/Wrap

Asian open: Metals still hold the key as USD stays soft; busy day of data ahead

Not a lot of movement overnight in the FX market but its interesting to see that USD/CAD was one of the bigger movers, indicating that the market is squarely focused on events in the commodity markets. This could be due to a lack of any other focus or it could be that major events are brewing in the precious metals and commodities spaces.

AUD/USD failed to break new ground and only a clean break above .9350 will have the bears getting worried.

It will be a busy day for the economic calendar. NZ and Japanese trade data, Australian CPI and Chinese PMI should all add to market volatility.

Good luck.

  1. Has been my view for a while as well Dok but I’m slowly changing. The rally in Gold should be USD/CHF negative and I’m also bit worried that we might get another big sell off in USD/JPY? I would not commit 100% to any levels or strategy, wait until it gets there then make your mind up. It might bounce from 90 to 96 again? Nice trade if you can get timing right

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