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Forex pairs in this Article » AUD/USD (Barcelona) - Looking to the week ahead, despite lackluster Australian retail sales data, pricing for the RBA's Feb meeting has eased back to -8bp. According to the Westpac Analyst Team, "The global outlook looks to be key to the AUDUSD."

In addition, "Despite the Dec FOMC minutes, there seems little prospect of QE4 being wound up as soon as mid-year, as fiscal contraction keeps a lid on US H1 job creation. So the newly created USD will keep flowing, spilling over to USD/Asia and elsewhere." They add.

European sovereign concerns are on the backburner for now, despite some tension in Portugal, while China's growth momentum is intact. The latter appears to still be news to some bears, judging by the 50-pip rally in the AUDUSD last week as China's Dec export growth rebounded sharply from a misleadingly soft Nov headline. Chinese trade officials - not known for their effusiveness - predicted stronger exports in Q1.
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