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"Commodity price concerns are ... contributing to a deferral or cancellation of some potential mining projects. And resource export growth has slowed, largely for exogenous reasons."
-Central Bank of Australia (based on The Australian)
Pair's Outlook
Aussie gained momentum and continues to depreciate. Specialists predict pairs recovery in short term, however indicators point at further depreciation of the pair and it is unlikely pair will experience resistance before 1.0076.
Traders' Sentiment
After three weeks of bearishness, market sentiment is bullish for the third consecutive day. Amount of traders holding long positions increased by 8% since yesterday and currently is at 63% gauge. However, amount of pending sell orders remains above 50%. It decreased by only 1% since yesterday and is at 56% mark.
© Dukascopy Bank SA