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"The current pace of wage growth provides no clear signal for the RBA in terms of monetary policy, with the outlook for rates largely to remain dependent on developments in the global economic environment."
-Tom Kennedy, JP Morgan (based on The Australian)
Pair's Outlook
Pair approached 1.0438 earlier in the day but weekly pivot (S2) gave enough boost for the pair to appreciate for the first time in almost a week. Pair's outlook in the short and medium term remains positive predicting the pair to remain above 1.05 and test 1.0535 in the nearest future.
Traders' Sentiment
Market sentiment on AUD/USD hasn't changed as 75% of the traders continue to hold short positions on the pair. But we can see some significant change in allocation of pending orders as well. In the range of 100 pips from the current price, only 45% of traders have posted buy orders in comparison to 56% yesterday.
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