Today’s Australian Inflation data for the third quarter ending September is predicted to print at 2.9% y\y well down from the June quarter’s spike of 3.8% y/y and show a marked drop. Currency positioning around this release could be part of the reason why we have seen recent falls in the Australian Dollar (AUD) over the past while. Meanwhile, in light of the upcoming presidential election mid-November we have seen investors move into the greenback as uncertainty impacts sentiment. A move through 0.6500 (1.5385) looks possible in the coming days and a retest of the 0.6350 (1.5750) level.
Current Level: 0.6558
Resistance: 0.6700
Support: 0.6500
Last Weeks Range: 0.6600- 0.6722