FXStreet (Guatemala) - Sean Callow, analyst at Westpac Banking Corporation explained that considering the poor risk mood, AUD/USD’s losses were not dramatic, slipping from 0.7030 to 0.6980 early Sydney.
Key Quotes:
"But with Asian markets likely to take their cue from Europe and the US, AUD/USD seems at risk of re-testing last week’s 0.6939 low. Spot iron ore is holding up fairly well, -0.2% to $56.86/tonne but Dalian futures closed London trade -2.3% and copper, gold and oil all weakened.
South Korea is again on holiday. The Reserve Bank of India is expected by most forecasters to reduce rates by 25bp to 7.0% on optimism that inflation is low enough to allow a cut which would benefit both bonds and equities.
BoE governor Carney speaks in London in the evening local time. In the US, we have Sep consumer confidence. This has been volatile in recent months, but has been around highs back to 2007. Consensus for Sep is a fall back to 97.0 from 101.5. The Jul S&P/Case-Shiller house prices should show a small rise of 0.1%m/m. Growth has been more modest lately but still solid."
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