Published at 07:11 (GMT) 30 Jan

AUDUSD/NZDUSD

Aussie and Kiwi under fresh selling pressure in early Europe/ London. With Aust Treasurer Joe Hockey ok with AUD fall. Focus on US Q4 GDP, market eye 3.0%, for any upside surprise.

AUD/USD at 0.7777/79, running into selling interest ahead of 0.7800. With focus on 5-half year lows of 0.7720. Then 0.7700 handle. RBA's 0.75 level - then psychological 0.7000. Focus on RBA decision next week, markets pricing 65% of cut next Tuesday. Interesting to note that markets now pricing in more than 2 25bps rate cut from 2.50% to 2.00% - looking for 61bps of cuts in next 12 months. So possible sub 2.00% RBA Cash Rate?

AUD weighed by fall in Iron Ore to fresh 5-half year lows, $62.30 - Copper (See earlier WSJ flows), Gold down as well.

NZD/USD down at 0.7273-77, eye break of near 4-year lows of 0.7235 seen on Thursday. After fall from 0.7440-50 - as RBNZ dropped tightening bias - and open doors for rate cut - if needed. Eye break of 0.7200. Then 0.7000.

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