The commodity currencies have continued on with their trends from yesterday as traders suspect that the other economic data of the week from China, Korea and Australia all points to a stronger than expected Chinese GDP number. If you managed to pick the bottom in the AUD/USD yesterday, I’d be booking some profits ahead of the event at 02:00 GMT as you just never know with Chinese data.
Normally Friday’s are risk-off events in Asia but I expect today to be very quiet pre-GDP.
Good luck today and TGIF.
