The Aussie/Japanese yen (AUD/JPY) currency pair has bounced strongly off a key support level today, suggesting that the recent downward trend may have come to a halt, at least for the time being anyway.
Once again, the AUssie/U.S. Dollar (AUD/USD) currency pair is back, banging its head against the ceiling around that 0.7730-80 resistance range. Relative to other major currencies, though, the Aussie has performed rather well in recent times. So, it may finally clear this resistance zone at the umpteenth time of asking.
A day after their biggest daily gains of the year so far, U.S. equity indices are heading for an unchanged open on Thursday as investors await more commentary from the Fed ahead of its blackout period.
In addition to Trump’s speech, we had some important economic data out of Asia overnight. Specifically, from Australia and China. In Australia, the fourth quarter GDP came in at 1.1%. This was much stronger than 0.7% expected and more than made up for the surprise contraction of 0.5% in Q3.