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AUD/USD: Awaiting CNY stability - ANZ

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Delhi) – Research Team at ANZ, notes that China’s PBoC set their daily fix much weaker than market expectations yesterday and pressure on AUD and emerging market currencies persisted.

    Key Quotes

    “Market focus will remain on how CNY performs in this USD strengthening environment. The FOMC Minutes did not derail the strong USD story and US data were supportive overnight. We expect today’s Australian trade release to print a wider deficit and building approvals to underperform market expectations. This may put further downside pressure on the AUD.

    Expected range: 0.7000 – 0.7100
    For more information, read our latest forex news.
     

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