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EUR/AUD catching a bounce on heavy Aussie sell off
FXStreet (Guatemala) - EUR/AUD is currently trading at 1.4462 with highs of 1.4464 and lows at 1.4384, up 0.30% on the day so far.
EUR/AUD has slowed up through the 1.44 handle after a bearish display that has seen the pair lose over 160 pips since yesterday's business where the cross was changing hands at the heights of 1.4549. The market has been surprising given the poor performances of key commodities, although the rhetoric from ECB members have not been supportive of the EUR either and the driver of the market has to be with the more dominant of currencies.
ECB's Nowotny was speaking over night and came right out and said “In concrete terms, I believe it makes sense to do something in terms of monetary policy.” And – “Personally I believe that it would make sense to come to a decision rather earlier than later.”
However, in recent moments, the cross has found a bounce rallying up from the 1.44 handle meeting this week's bearish gap on the back of the copper prices dropping sharply and moving even further up at time of writing. AUD/USD is down 0.24% with lows of 0.8142.
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