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Aussie again testing 0.75 handle

Friday, Mar 11 2016
With nothing on the domestic or regional data today, CBA’s currency strategist Elias Haddad suggests the next point of market interest for Aussie will arrive over the weekend. “The next major AUD signpost will be the Chinese activity data batch (fixed asset investment, industrial production and retail sales) for January-February released on Saturday,” says Haddad.
China’s National Bureau of Statistics will release the data at 4.30pm AEDT Saturday afternoon. According to a survey conducted by Thomson Reuters, industrial output, retail sales and urban fixed asset investment are all expected to decelerate over the period compared to those levels seen in December. Industrial output is tipped to grow by 5.6% from 12 months earlier, down from 5.9% seen previously, with retail spending forecast to cool to 10.8% from 11.1% reported in December.
 
Aussie is currently being traded around 0.75 area. Pair is likely to find support around 0.7440 handle and resistance above 0.7550 level. There will be no major data releases in the rest of the session.
 
Source: FxEmpire.com
More in this category: « ECB cut interest rates, but sees no need for further cut UK Trade Balance deficit at £10.3 billion in January »

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