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Range trading to continue for the EUR AUD pairing.

Written by Sam Coxhead on May 18th, 2012.      0 comments

4:47 PM (NZT) Although the Australian dollar has seen some appreciation over the EUR so far this week, the pair remains very much in the recently familiar range. With the absence of material economic data in Australia next week , expect the lead to come from the wider market appetite for risk and any substantial news out of China. It is likely that this recent range will remain in place in the short term. Any worsening of the situation in Europe will likely see the AUD outperform as the expectations for further central bank stimulation increase.
 
The current interbank midrate is:                                               AUDEUR  .7785                   EURAUD  1.2845                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .7738 – .7827   EURAUD 1.2776 – 1.2923
Topics: AUD EUR
 

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