It hasn't been a big range for the AUD today, but it has been a positive one

The up move for the session began in earnest on the NAB Business Survey data (January):

  • Australia January Business Confidence: 10 (prior 6) & Conditions: 16 (prior 11)

and has continued after the Chinese inflation data:

  • China (January) CPI 2.5% y/y (expected 2.4%) & PPI 6.9% y/y (expected 6.6%)
  • China January inflation data lifts outlook for global relation - more

0.77 has been a lid for it and its next big test

Through 0.77? Yes/No?

When?

What say FXL traders?

ps. Here's a bear case, or at least not a bull case: HSBC: The 3 factors that have driven the AUD are no longer in alignment