FX:AUDUSD Australian Dollar/U.S. Dollar
AUD/USD is keeping to the ascending support line on a weaker US dollar and accompanied by the positive backdrop from the Australian Jobs data yesterday. Kit Jukes, global head of currency strategy at Societe Generale explained that their “Tech people” will declare a market in AUD/USD if 0.95 breaks. “Until then it's 'just' a correction”. He explained also, The FOMC is working so hard to reassure markets that it will not tighten too much, too soon, that it risks unsettling the carefully constructed forward guidance put in place last year to prepare markets for eventual policy normalisation. This is breathing new, temporary life into carry trades, and undermining the US dollar”.