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5 Mar 2014
EUR/AUD jumps to a high 1.5371
FXStreet (Guatemala) - EUR/AUD has picked up half a big figure of gains as market makers handle flows of supply while traders dump the Aussie.
AUD/USD crash landed and the EUR/AUD spiked with chatter suggesting orders were being placed above the psychological level of AUD/USD 0.9000. More will hopefully come clearer on the wires but it was a move that leaves us looking around. Earlier, the Aussie dollar enjoyed some domestic data and we had the Q4 2913 GDP from Australia. Although out dated it was still of keen interest that GDP (YoY) Q4 read as 2.8% vs 2.5% expected and (QoQ) Q4 came in at 0.8% vs 0.7%. For further data, analysts at Rabobank noted to watch out for Eurozone final services PMIs – “the Eurozone measure is seen unchanged at 51.7. That is followed by Eurozone retail sales (seen up 0.8% MoM but -0.2% YoY) and the first reading of Q4 Eurozone GDP, where consensus is 0.3% QoQ and 0.5% YoY – a recovery, yes, but a weak one.” Meanwhile, RSI (14) is moving towards overbought territory and the EMA’s are coming with a bearish bias.
AUD/USD crash landed and the EUR/AUD spiked with chatter suggesting orders were being placed above the psychological level of AUD/USD 0.9000. More will hopefully come clearer on the wires but it was a move that leaves us looking around. Earlier, the Aussie dollar enjoyed some domestic data and we had the Q4 2913 GDP from Australia. Although out dated it was still of keen interest that GDP (YoY) Q4 read as 2.8% vs 2.5% expected and (QoQ) Q4 came in at 0.8% vs 0.7%. For further data, analysts at Rabobank noted to watch out for Eurozone final services PMIs – “the Eurozone measure is seen unchanged at 51.7. That is followed by Eurozone retail sales (seen up 0.8% MoM but -0.2% YoY) and the first reading of Q4 Eurozone GDP, where consensus is 0.3% QoQ and 0.5% YoY – a recovery, yes, but a weak one.” Meanwhile, RSI (14) is moving towards overbought territory and the EMA’s are coming with a bearish bias.