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Waiting game for the AUD EUR pair.

Written by Sam Coxhead on October 20th, 2011.      0 comments

4:47 PM (NZT) The Australian dollar and the EURO have been relatively stable so far this week. The RBA monetary policy meeting minutes held few surprises and the bulk of the lead has come from the debt situation in Europe. Hopes of a definitive action plan to be released at the EU summit this weekend have steadily diminished throughout the week, and this has helped curb the recent AUD momentum. Next week the focus will remain on Europe, but also the market will closely watch the quarterly Australian inflation numbers due for release on Wednesday. Again, current levels represent good value buying of EURO with Australian dollars.
 
The current interbank midrate price is:       .7423                     (EURAUD  1.34711)
                                                                                                                    
The interbank range so far this week to date has been: .7381 - .7477    (EURAUD 1.3374 - 1.3548)
 

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