It hasn't been a big range for the AUD today, but it has been a positive one
The up move for the session began in earnest on the NAB Business Survey data (January):
and has continued after the Chinese inflation data:
- China (January) CPI 2.5% y/y (expected 2.4%) & PPI 6.9% y/y (expected 6.6%)
- China January inflation data lifts outlook for global relation - more
0.77 has been a lid for it and its next big test
Through 0.77? Yes/No?
When?
What say FXL traders?
ps. Here's a bear case, or at least not a bull case: HSBC: The 3 factors that have driven the AUD are no longer in alignment