6 Dec 2013
EUR/AUD riding EMA5
FXstreet.com (London) - EUR/AUD is riding the EMA5 and currently on the bid. The pair has advanced grinding to the upside since rallying from 1.4860 territory this week.
EUR/AUD is currently 1.5108 while the marker has been bid EUR overall and with the Australia GDP Q3 QoQ coming in lower than expected at 0.6% (expected 0.7%), the pair is drifting higher. The previous GDP was revised however, revised up by 0.1% to 0.7% offering some support to the AUD.
ECB in wait and see mode
Meanwhile, and as strategists at TD Securities noted, the ECB ends the Year on a Quiet Note. “No more surprises at this month’s meeting, with refi rate and deposit rate left on hold. In fact, no surprises anywhere with the prepared statement nearly identical to that of November, the staff forecasts largely in line with what we had been looking for, and the press conference a bit of a snoozer. ECB is in wait and see mode now, with its traditional policy tools largely exhausted, and it turns its focus now to structural reforms”.
EUR/AUD is currently 1.5108 while the marker has been bid EUR overall and with the Australia GDP Q3 QoQ coming in lower than expected at 0.6% (expected 0.7%), the pair is drifting higher. The previous GDP was revised however, revised up by 0.1% to 0.7% offering some support to the AUD.
ECB in wait and see mode
Meanwhile, and as strategists at TD Securities noted, the ECB ends the Year on a Quiet Note. “No more surprises at this month’s meeting, with refi rate and deposit rate left on hold. In fact, no surprises anywhere with the prepared statement nearly identical to that of November, the staff forecasts largely in line with what we had been looking for, and the press conference a bit of a snoozer. ECB is in wait and see mode now, with its traditional policy tools largely exhausted, and it turns its focus now to structural reforms”.