Australian dollar gives back gains, flat on the day – orders
The Australian dollar traded higher in Asia and Europe on better risk appetite but the Aussie is giving back the gains and is now nearly flat on the day at 0.9578 after hitting 0.9641.
The $5.9B Mitsubishi project cancellation in and the Chinese data revelations are fundamental stories to back up the sharp fall in AUD over the past month. AUD/USD bids stretch down to 0.9550 with more demand at the early (very early) Asian low of 0.9537. Stops below 0.9505.