Forex: AUD/USD slips to 1.0465 on downbeat China trade numbers
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AUD/USD
FXstreet.com (Barcelona) - The Australian Dollar has fallen almost 20 pips to a new session low of 1.0466 after awful chinese trade balance numbers. While the surplus came down to $19.63B from $32.05B, lowest in 6 months, the export / import numbers were the most worrisome of all, with exports +2.9% y/y vs +9.0% exp, while imports stood unchanged vs +2.0% exp.
AUDUSD, which has been making a few attempts to break above the 1.0510/15, and with the specs at record highs, still seems to be lacking a last push to blow reported stops above 1.0525. According to Sean Lee, Founder at FXWW, "the same sovereigns that are buying below 1.0400 are also selling 1.0510/20: Solid selling interest also from macro funds near same level: Heavy stops, mainly option-related, above 1.0525."
AUDUSD, which has been making a few attempts to break above the 1.0510/15, and with the specs at record highs, still seems to be lacking a last push to blow reported stops above 1.0525. According to Sean Lee, Founder at FXWW, "the same sovereigns that are buying below 1.0400 are also selling 1.0510/20: Solid selling interest also from macro funds near same level: Heavy stops, mainly option-related, above 1.0525."
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