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Aussie slightly higher in a tighter range Monday's trading

Monday, Dec 29 2014
It was another uneventful morning part of the session with no data releases from Australia. Though, Aussie is trying to break higher it remains under pressure due to decline in iron ore prices. Gold markets, though somewhat supported by holiday jewelry shopping, are still soft.
 
Also, after recent weak Australian economic data with GDP growth of only 0.3% in third quarter, decline in fuel prices could spur consumer spending, especially after Boxing Day, when holiday sales began. Fuel prices have fallen to the lowest point in four years, giving consumers something to be cheerful about following a run of bad economic news.
 
Aussie added few points this morning and is currently being traded slightly below 0.8150 level. We can expect a steadier rest of the session as there will be no data releases from the USA.
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