Update: The AUD traded in a very narrow range over the weekend with no real new data releases that were significant
Update: The AUD traded in a very narrow range over the weekend with no real new data releases that were significant. The G20 meeting of finance ministers in Sydney ended with Treasurer Joe Hockey saying all member nations would try and boost growth by 2% more than their existing plans over the next 5 years. We expect the AUD to trade in a narrow band over the next several days. In the US existing home sales for January fell by 5.1%. US Federal Reserve member Bullard said on Friday night that the US Federal Reserve would continue to taper its bond purchases and that some of the soft data we have seen lately was probably weather affected. UK retail sales disappointed for January falling 1.5% although the yoy rise was 4.4%. ECB President Draghi said the ECB was prepared to add further stimulus measures if deflation threatens the Eurozone.
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