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Wrap Up 15-19 April AUDUSD Plunges 2.15%

Home Loans m/m

2.0%

1.6%

-0.3%

New Motor Vehicle Sales m/m

-0.6%

-0.1%

MI Leading Index m/m

0.6%

0.4%

NAB Quarterly Business Confidence

2

-5

The overall economic data was good for Australia. Home loans rose 2% and MI Leading Index came 0.6%. Despite this data the Australian dollar has been the looser of the week.  It was highly influenced by the releases from China. Its GDP was 7.7%, with 0.3% under the market expectations, the industrial production rose only 8.9% and Fixed Asset Investment ytd/y rose 20.9%, expected 21.3%.

Next week we the market is expecting the publishing of CB Leading Index, the CPI report and the speech of RBA Deputy Governor Lowe. Let’s not forget about the HSBC Flash Manufacturing PMI from China which might influence the evolution of the Australian currency.

wrap-up-15-19-audusd-plunged-2.15-21.04.2013

AUDUSD fell 2.15% after the release of China’s GDP. The risk appetite dropped and the USA dollar was bought along with the Japanese yen. Looking at the chart we can see that it couldn’t go through 1.05 and fell back under 1.0365, finding support at 1.0265. This down move may continue next week. Next support area can be found at 1.0115 – 1.0155.

Wrap Up 15-19 April AUDUSD Plunges 2.15% by
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