AUD/USD aims for a neutral close

By FXStreet AUD/USD has been sprung back from the lows of 0.7069. The US CPI’s were a positive surprise, but that is not to say that the Fed are in a position to hike any time soon, although we have started to see some glimmers of hope in the economy of late in an improvement in some areas of the economy’s data.

Meanwhile, the Aussie was in focus this week with the jobs data that failed to impress and marks a downturn in the sector vs the otherwise very positive 2015 numbers, exposing the Aussie to downside pressures in light of a cautionary optimistic RBA that will review such numbers in light of their forward projections and the possibility of needing to act to stave off deflationary pressures in the future.

Capex in focus for AUD/USD

We will get the all important Capex next week for the economy as next main focus. “Dec qtr to continue unwinding mining investment; the 5th estimate of 2015/16 is now half-actual half-estimate while 2016/17 capex is a total wildcard. Nevertheless, continued lackluster services based investment intentions will be closely eyed by the markets,” explained analysts at TD Securities.

AUD/USD levels

AUD/USD testing the vicinity of the 100 sma on …read more

Source:: FX Street