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25 Apr 2016
AUD/USD: tracking gold with bearish bias - FXStreet
Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair is barely changed from its Friday's close.
Key Quotes:
"...with a holiday in Australia and New Zealand keeping local investors quiet at the beginning of the week, and soft commodities' prices limiting the advance of the antipodean currency later in the day, in spite of broad dollar's weakness.
With no data scheduled for the upcoming session, the Aussie will likely keep on trading accordingly to oil and gold's prices, which means the risk has turned towards the downside, at least in the short term."
Key Quotes:
"...with a holiday in Australia and New Zealand keeping local investors quiet at the beginning of the week, and soft commodities' prices limiting the advance of the antipodean currency later in the day, in spite of broad dollar's weakness.
With no data scheduled for the upcoming session, the Aussie will likely keep on trading accordingly to oil and gold's prices, which means the risk has turned towards the downside, at least in the short term."