AUDUSD: Reached a high of 0.7835 on Thursday
|Preferred Strategy: The Aud reached a high of 0.7835 on Thursday and is currently near the high and will take its next direction from the China Trade Balance (Exp US$39 bio. Exports +8.8%, Imports + 13.5%) ahead of the US inflation data. Look for a choppy session, but the momentum indicators currently look a little more supportive so buying dips looks to be the way of it. A strong CPI figure from the US, hinting at a Fed rate hike in December, effectively eliminating the Australian yield advantage may see a quick move in the other direction, so caution is warranted.
Economic data highlights will include:
F: Financial Stability Report, China Trade Balance
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.