AUD/USD stops taken out above 1.0450
Dealers will use economic data as the excuse but no-one will remember the name or number tomorrow. The stops we mentioned above 1.0450 are now done.
All eyes on the RBA in 3 hours. The market almost universally expects “no change” with focus on the statement for perhaps a less dovish tone.
Short-term risk is to the topside according to most interbank dealers but watch out for those Hedge Fund offers to appear (no set levels at moment).