Dealers are seeing the bias in the AUD as lower.
- The prevailing EUR/AUD flow (out of AUD into EUR) is seen as continuing to exert downward pressure
- Exporters (having a buy interest in the AUD) are not placing buy orders with the same degree of gusto as they have in the recent past – also fuelling the downward bias perception.
The RBA meets tomorrow and its widely expected they will leave cash target rate on hold; tomorrow’s decision is not being seen as a ‘line-ball’ as the most recent decisions have been.
–
- 1.0445/50 is selling
- 1.0360/65 and up through 1.0375 is buying
