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13 Jun 2013
Flash: AUD/USD remains susceptible to fresh selling – NAB
FXstreet.com (New York) - The AUD is susceptible to fresh selling pressure on a worse than consensus labor market outcome.
However, “unless and until the rate closes below the 0.9380-0.9400 key support area, we hold to the line that the currency now has a good chance of at least consolidating recent losses.” suggests the NAB Research Team.
The key external risk to this view would come if US Treasury yield break higher again (e.g. 10-year yield push out above 2.30%) and in which respect key US event risk later tonight comes from the May retail sales report and weekly jobless claims, both very significant releases.
However, “unless and until the rate closes below the 0.9380-0.9400 key support area, we hold to the line that the currency now has a good chance of at least consolidating recent losses.” suggests the NAB Research Team.
The key external risk to this view would come if US Treasury yield break higher again (e.g. 10-year yield push out above 2.30%) and in which respect key US event risk later tonight comes from the May retail sales report and weekly jobless claims, both very significant releases.