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3 Feb 2015
AUD/USD shorts squeezed and more to US session highs
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7794 with a US session high of 0.7852 and covering ground lost post RBA decision to cut rates by 0.25%.
AUD/USD shorts have all been squeezed out on a stop run in the greenback across the board with a sell off post a number of factors that started out in Europe and fead through into the US session.
The EUR/USD rallied on the back of the market reacting positively to Greece's approach to their debt commitments and positive discussions between the Greeks and the European Commission ahead of more discussions this week starting with Greek PM A.Tsipras and the Head of the European Commission J.C.Juncker. In addition, Greek finmin Y.Varoufakis will hold a meeting with ECB’s Draghi (Wednesday) and German finmin W.Schauble (Thursday).
Meanwhile, oil prices rallied and this supported the commodity currencies and weighed heavily on the greenback along with Fed´s Kocherlakota speaking and although not a voting member, his comments and reluctancies to see the Fed raise rates this year were enough to spark doubt into the market. All of this has gone in favour of the Aussie and puts the pair back above pre RBA rate cut prices, and exceeding this months highs and on to Jan 29th levels at 0.7852.
AUD/USD shorts have all been squeezed out on a stop run in the greenback across the board with a sell off post a number of factors that started out in Europe and fead through into the US session.
The EUR/USD rallied on the back of the market reacting positively to Greece's approach to their debt commitments and positive discussions between the Greeks and the European Commission ahead of more discussions this week starting with Greek PM A.Tsipras and the Head of the European Commission J.C.Juncker. In addition, Greek finmin Y.Varoufakis will hold a meeting with ECB’s Draghi (Wednesday) and German finmin W.Schauble (Thursday).
Meanwhile, oil prices rallied and this supported the commodity currencies and weighed heavily on the greenback along with Fed´s Kocherlakota speaking and although not a voting member, his comments and reluctancies to see the Fed raise rates this year were enough to spark doubt into the market. All of this has gone in favour of the Aussie and puts the pair back above pre RBA rate cut prices, and exceeding this months highs and on to Jan 29th levels at 0.7852.