Forex − AUD/USD, AUD/CAD Flows − AUD firm but underperforms counterparts
Friday, October 1, 2010
, Posted by Usman Ali Minhas at 10:26 PM
International Trading
Published at 19:36 (GMT) 01 Oct
AUD/USD is still firm while the USD broadly remains on its back foot, but the pair is seeing some headwinds with supply above 0.9750. Stretched positioning is a risk on AUD with some profit taking in longs despite expectations are set for RBA to hike rates on Tues of next week. Positioning also seems to be the key on AUD/CAD at this point, after today seeing a quick drop in equities shake out AUD positions and knock down the cross. Diverging view of the RBA and BoC, which may continue to be apparent next week with key Canadian fundamentals added on top of RBA announcement should keep some support under the cross. SI
