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AUD/USD looking to stabilize around 0.8950

FXstreet.com (Edinburgh) -Buyers turned up in the boundaries of 0.8900 the figure on Wednesday, giving some oxygen to the beleaguered Aussie dollar and lifting the AUD/USD to the current 0.8950 region.

AUD/USD bearish intensified

The selling pressure around the AUD continues to dominate the more ample outlook on the pair, ahead of the key CAPEX data due tomorrow, where market consensus expects a 0.2% advance during the second quarter. According to gareth Berry, Strategist at UBS, “The RBA hopes that non-mining sectors of the economy will step up and make a greater contribution as the mining investment boom recedes. It’s probably …read more