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17 Sep 2013
Flash: AUD/USD aims at 0.9515 as potential target - Westpac
FXstreet.com (Barcelona) - In view of Westpac Global Strategy Group, AUD/USD has scope to appreciate towards 0.94s first, potentially 0.9515 Fibonacci retracement by late this month, despite still seeing the rate lower by yea-end.
Key Quotes
"Australia’s economic story is mixed, with unemployment still trending higher and a good chance the RBA reiterates it has an easing bias in Tue’s minutes, but confidence bouncing after the election and China growth forecasts being revised higher."
"Yet the US should be key on the week, with pursuit of the diplomatic path on Syria providing background support and the FOMC decision likely to be cautious enough to leave USD on the defensive, with AUD to benefit more than most."
Key Quotes
"Australia’s economic story is mixed, with unemployment still trending higher and a good chance the RBA reiterates it has an easing bias in Tue’s minutes, but confidence bouncing after the election and China growth forecasts being revised higher."
"Yet the US should be key on the week, with pursuit of the diplomatic path on Syria providing background support and the FOMC decision likely to be cautious enough to leave USD on the defensive, with AUD to benefit more than most."