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    AUDUSD Rebounds to 0.7900 from 0.7835 in Europe

     

    AUD.2.26 resized 600Chart: WorldWideMarket Alpha Trader

    The Aussie Dollar initially fell in the Asian trading session from 0.7890 to 0.7835 after the weaker than expected Capex data.  Australian's 4th QTR Private Capital Expenditures fell to -2.2% much lower than the forecast of -1.7%. This raised the possibility of another round of rate cut of 25 basis points by the Reserve Bank of Australia by next week.

    European demand pushed the Aussie Dollar higher from 0.7850 to 0.7910 against the US Dollar on a combination of short covering and EURAUD selling. H 1.4475 L 1.4350.

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