Excerpt from: Forex News
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| July 21, 2010 | | Currency trading with AUD/USD | The Australian dollar is looking to break through the 0.9000 level against the U.S. dollar in forex trading. Earlier today, the Aussie was the only currency able to gain against the greenback (although it has since moved lower).
However, even with minor setbacks in currency trading, AUD/USD shows promise. GFT's Boris Schlossberg looks, in FX360, at the factors that could help the Aussie in forex trading:
The Aussie is not only benefiting from risk flows but from the
speculation that the RBA may decide to raise rates once more in August
if the CPI numbers due next week on July 28 th prove to be
hotter than expected. The latest Australian employment data handily beat
expectations printing at 45.9K versus 15.3K suggesting that growth Down
Under remains robust.
Down Under currencies continue to outperform expectations, after weathering the recession reasonably well. It will be interesting to see where things go from here.
| Topic Tags: AUD/USD, Aussie, Australian dollar, Boris Schlossberg, currency trading, forex trading, FX360 | |
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