Australian dollar climbs despite lack of economic news
August 18, 2014 7:51 am
The Australian dollar traded above 93 US cents as investors expected major economic news and data later in the week.
On Monday, the Aussie traded at 93.14 US cents, down from Friday’s 93.27 US cents.
“The Australian dollar is trading within narrow ranges between 93.09 US cents and 93.26 cents amid a lack of any market-moving news or data on Monday,” said Sean Callow, Senior Currency Strategist at Westpac.
“Nerves have settled down a bit but trade is cautious because we have the Reserve Bank of Australia minutes tomorrow, the testimony by Governor Glenn Stevens on Wednesday, Chinese data on Thursday, and we finish the week with US Federal Reserve Chair Janet Yellen’s speech at the Jackson Hole Summit,” Callow added.
The material has been provided by InstaForex Company – www.instaforex.com
The Australian dollar traded above 93 US cents as investors expected major economic news and data later in the week.
On Monday, the Aussie traded at 93.14 US cents, down from Friday’s 93.27 US cents.
“The Australian dollar is trading within narrow ranges between 93.09 US cents and 93.26 cents amid a lack of any market-moving news or data on Monday,” said Sean Callow, Senior Currency Strategist at Westpac.
“Nerves have settled down a bit but trade is cautious because we have the Reserve Bank of Australia minutes tomorrow, the testimony by Governor Glenn Stevens on Wednesday, Chinese data on Thursday, and we finish the week with US Federal Reserve Chair Janet Yellen’s speech at the Jackson Hole Summit,” Callow added.
The material has been provided by InstaForex Company – www.instaforex.com
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