Forex: AUD/USD trimming initial gains, around 1.0420
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AUD/USD
FXstreet.com (Barcelona) - The Aussie dollar is giving away initial gains made after the inflation figures in Australia, gauged by TD Securities Inflation rose to 2.5%YoY in January, up from 2.4%, while Building Permits rose 9.3% YoY during the same period.
"NAB's view remains that more rate cuts will be needed during the course of 2013 as the boom in mining investment fades and the unemployment rate rises", comments the research team at NAB.
At the moment AUDUSD is losing 0.03% at 1.0421 with the next support at 1.0384 (Lower Bollinger) and then 1.0361 (low Feb.1).
On the upside, a breakout of 1.0452 (high Jan.31) would aim for 1.0464 (MA10d).
"NAB's view remains that more rate cuts will be needed during the course of 2013 as the boom in mining investment fades and the unemployment rate rises", comments the research team at NAB.
At the moment AUDUSD is losing 0.03% at 1.0421 with the next support at 1.0384 (Lower Bollinger) and then 1.0361 (low Feb.1).
On the upside, a breakout of 1.0452 (high Jan.31) would aim for 1.0464 (MA10d).
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