Modest rebound in AUD and risk sentiment during Asian trade
- Macro funds were noted buyers of AUD/USD below .9200 earlier this morning.
- ACBs intervened heavily again, selling USD/AXY, and they are expected to sell EUR/USD during course of day to keep reserves balanced.
- USD/JPY rallied initially on back of EconMin comments that corporate taxes should be cut; later triggered trailing stops above 97.60.
That’s about all of note there is to report but a definite lessening in risk aversion should be favourable for Gold and AUD as we head towards the weekend. Let’s see if the Europeans have any big positions built up.