AUD: Weekend press reports not having any impact at moment
- Australian Financial Review running a story saying that there will be a rate cut in August.
- The Australian reporting that the Treasury department will revise down the GDP forecast.
The AUD/USD is pretty much unchanged this morning and AUD/NZD is 50 pips higher (after another earthquake in Wellington this time).
I’m still long AUD/USD and will look to buy more near .9050/75 for an eventual break above .9350 towards .9600. Intraday rallies are likely to struggle near .9260.