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26 Mar 2013
Forex: AUD/USD unchanged as RBS Stevens speech a non event
FXstreet.com (Barcelona) - AUD/USD is last at 1.0458, little changed for the Asia-Pacific session, despite the fact Chinese markets opened with heavy selling, which usually leads the Aussie in thin markets, and RBA Stevens giving a speech today in Sydney. “RBA Governor Glenn Stevens gave a speech today: 'Financial Regulation: Australia in the Global Landscape'; there was nothing of relevance to monetary policy or FX,” said ForexLive editor Eamonn Sheridan, recapping on the event.
Governor Stevens said "sorry to those who expected him to talk about monetary policy at the speech", reported MNI journalist Sophia Rodrigues in her Twitter account, though there should be nothing to be sorry about if one read previous NAB comments here. Shanghai index is last -1.31% lower for the session so far, while Hang-Seng -0.4% and Australia ASX -0.8%. Market's attention will shift now to US key risk events starting at 12:30 GMT in the form of core durable goods orders, and CB Consumer confidence and New home sales both at 14:00 GMT.
Immediate resistance to the upside for AUD/USD shows at recent session highs 1.0460/70, followed by yesterday's fresh 2-month highs at 1.0480, and Dec 13 lows at 1.0503. To the downside, closest support lies at yesterday's NY session lows 1.0442, followed by Monday's weekly lows at 1.0432, and Friday's lows at 1.0420, ahead of the 200 day SMA/Feb 15 highs at 1.0375.
Governor Stevens said "sorry to those who expected him to talk about monetary policy at the speech", reported MNI journalist Sophia Rodrigues in her Twitter account, though there should be nothing to be sorry about if one read previous NAB comments here. Shanghai index is last -1.31% lower for the session so far, while Hang-Seng -0.4% and Australia ASX -0.8%. Market's attention will shift now to US key risk events starting at 12:30 GMT in the form of core durable goods orders, and CB Consumer confidence and New home sales both at 14:00 GMT.
Immediate resistance to the upside for AUD/USD shows at recent session highs 1.0460/70, followed by yesterday's fresh 2-month highs at 1.0480, and Dec 13 lows at 1.0503. To the downside, closest support lies at yesterday's NY session lows 1.0442, followed by Monday's weekly lows at 1.0432, and Friday's lows at 1.0420, ahead of the 200 day SMA/Feb 15 highs at 1.0375.