EUR/AUD supported drifting towards highs

FXStreet (Guatemala) - EUR/AUD had scored a high of 1.5278 post the ECB press conference and rallies in the euro. We are know paying attention to RBA’s Stevens who is in the House of Representatives delivering his twice yearly assessment on the economy. So far there haven’t been any surprises from the speech released. We will look to the Q’s and A’s.

EUR/AUD has been seeing some bids and is making steady ground at a slow pace to the upside towards the earlier highs. What we have been given so far is as follows: Further decline in Australia Terms of Trade, Inflation outlook a little higher than before, Outlook contains many uncertainties, Q4 GDP data does not change view of growth below trend, Decline in mining investment to accelerate, Consumers unlikely to drive growth like before crisis, Non-mining investment is bound to pick up at some stage and Exchange rate high by historical standard. There are plenty of headlines that are rolling in…more here.