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Volatile sideways trade continues for the AUD USD pair.

Written by Sam Coxhead on September 30th, 2011.      0 comments

4:11 PM (NZT) This pair has been volatile over this week whilst trading within the .9650/.9950 range for the most part. With the absence of economic data in Australia, the movement has almost purely been provided by the ebbs and flows of the general market risk aversion. In the current environment the bias still remains to the downside to my mind. The European debt situation remains as complex as it has been. There is still no clear path forward and the risk is that the longer it takes to play out the lower the global growth profile will become. Next week the economic data flow returns to the Australian market with the focus on the RBA monetary policy announcement on Tuesday. In the US the primary focus will be the monthly employment numbers on Friday. If risk aversion remains high , the AUD will continue to under perform. There have been a couple of periods of AUD resurgence, but it has not had the energy to follow through as yet and could well prove to be an ominous sign.
 
The current interbank price is:      .9793
                                                             
The interbank range on the week to date has been:     .9615/.9986
 

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