AUD/USDGraphic review: Aussie returns some of the EU gains

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Adrian Robles, 7 July 2012 00: 35 GMT prepared from Adrian Robles, EST 2 hr MarketScope chart

This week rode the AUDUSD on the market-wide optimism triggered by the Summit and by the prospect of a co-ordinated stimulus effort managed by the European Central Bank. The ECB crushed this hope on Thursday at the press conference, which ended the rally in the AUDUSD.

The AUDUSD began a reading over 50 led an expansion in manufacturing the week on a short bit, after China Manufacturing PMI surpass expectations to coverage. A survey by Bloomberg called for a contraction in the Chinese manufacturing which would have implied Australian raw materials less demand. The few Poppedon Tuesday, when may extended the building approvals by 27.3 per cent from April, brings growth in building approvals in the last 12 months by 9.3 percent. The extension in the Mai building permits was the fact that investors optimistic were bp rate in the Australian economy ahead of the 25, which highlights cut in June. The couple over the closure of two hours ended in further, but lower, after the Reserve Bank of Australia to keep cash rate (OCR) to 3.5 per cent. The couple moved a few points after the announcement, because market participants, where the accommodation already in the RBA would keep prices, cash prices.

On Thursday, the the AUDUSD almost fell 100 points after the European Central Bank the OCR on an all time cut by 0.75% lower, but offered no stimulus efforts. After the press conference flocked back to the safe haven currency is, rejects the USD to carry in the AUDUSD. The downward trend continued Friday after the June she published United States the employment data AUSUSD fall 100 points to settle at 1.0190 (at the time of writing). The FXCM US dollar index (ticker: USDollar) rallied after found that unemployment does not increase. The jump in the U.S. dollar the result of danger can be negative investors, a sideline position independent of employment data have been.

At the end of this week has again about 30 percent of the profits that were made during the two days of the EU Summit of AUDUSD and the Aussie can give more of the EU Summit WINS $, is another retreat in risk appetite.

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7 July 2012 00: 35 GMT

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