Flash: AUD/USD to gain strength from Chinese data? – OCBC Bank

FXstreet.com (London) - Emmanuel Ng of OCBC Bank notes that although segments of the market expect the RBA to remain data dependent after its latest rate cut, he notes that net speculative CFTC positioning show a further increase in AUD shorts in the latest week.

Key Quotes

“However, the immediacy of the recent signs of encouragement from Chinese data releases may continue to lend strength to the AUD-USD in the near term.”

“The pair may attempt to brush up against the 55-day MA (0.9275) if 0.9200 is broken convincingly.”