In the absence of Australian Data this week the Australian Dollar (AUD) has performed well against the US Dollar (USD). The Aussie pushed higher above 0.6500 levels, the first positive week amid 7 weeks of declines off the back of soft US data. The fed’s reluctance to cut rates quickly could continue to weigh on the AUD along with weak Chinese economic data. We now target next week’s Australian CPI release Wednesday expected to come in at 2.5%.
The current interbank midrate is: AUDUSD 0.6510
The interbank range this week has been: AUDUSD 0.6447- 0.6543