AUD/USD: oil is the diver again - FXStreet

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Valeria Bednarik, chief analyst at FXStreet explained that the Aussie started the day with a strong footing, advancing up to 0.7181 against the greenback at the beginning of the Asian session.

    Key Quotes:

    "The release of the latest RBA Minutes had no impact on the pair as they did not reveal anything new."

    "The Minutes supported the short term advance, as they showed that a weaker currency has boosted demand for domestic production, whilst the RBA seems to be comfortable with the current levels of the AUD."

    "The AUD/USD pair however, accelerated its decline during the American afternoon as the dollar gained momentum, following a sharp decline in oil."
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