Special Consultant to the FPA
The focus today is on the Australasian currencies after better than expected data from China over the weekend (PMI – 56.3 Vs EXP 55.4) which was the highest reading in over a year. Australian retail sales also came out much better than expected at 0.8% Vs EXP 0.4, giving the AUD a boost leading into the London session. Look for opportunities to buy the AUD currency and NZD currency during today’s session, but moves could be muted as we await the RBA rate statement tomorrow.
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