Aussie traded lightly early Monday

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Monday, Jun 12 2017

Aussie traded lightly early Monday

The Australian and New Zealand Dollars are trading mixed early Monday. There were no economic reports in Australian, New Zealand or China so investors have no strong bias at this time. It’s also a bank holiday in Australia so volume is down. RBA Assistant Governor Guy Debelle will speak at an event in Hong Kong. The topic is unknown.

If he gives a hawkish speech this the Australian Dollar may be underpinned. A dovish speech will pressure the currency.The bank holiday in Australian and an extremely overbought New Zealand Dollar may give investors an excuse to take profits or cut positions against several key reports and the U.S. Federal Reserve’s major announcement on Wednesday.

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