AUD: Big hedge funds selling again in overnight trade
This in itself is no surprise because some of the big macro funds have been consistently selling AUD/USD over the last few months. What is somewhat surprising is that they are increasing risk ahead of a major risk event (my sources tell me that these are increased short positions and not reduced longs). Looks like they are getting more confident that a rate cut is coming!
The RBA announcement is at 04:30 GMT with trade data 3 hours earlier.