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Aussie getting mixed signals

Monday, Feb 22 2016
Though, there were no data releases from Australia this morninfg, Aussie was pushed higher on comments from China over the weekend and the additional stimulus from the PBOC at the end of last week. RBA Asst. Gov Debelle spoke this morning helping to support the currency. The rebound in oil prices and the hopes of some production agreements are supportive of the commodity currencies. 
 Weighing on the Aussie was a story by the Wall Street Journal quoting a Reserve Bank of Australia board member Edwards saying the Australian dollar was still too high. While the central bank has stopped actively talking down the currency, governor Glenn Stevens recently seemed to suggest the currency could fall further. He noted the Aussie had been relatively steady, even though commodity prices have fallen.
 
Aussie is currently being traded around 0.7170 area. Pair is likely to find support around 0.7080 handle and resistance above 0.7220 level. There will be no major data releases later today.
More in this category: « Sterling down on Brexit concerns German and French PMI fell in February »

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