The AUD and the EUR have made some decent gains overnight and it now remains to be seen whether this trend continues now that September is upon us. I think we are probably more likely to get some false alarms before the next trend sets in.
On the economic data front, the Australian trade balance is due out this morning but normally doesn’t move the market. All the big stops above .9080 were triggered overnight and a session of consolidation is favoured.
Good luck today.
