The Aud/Usd continued its downward trend posting fresh lows as stop loss selling pushed the pair to prices not seen since October of 2011. The break below 0.9500 pressed the currency down to 0.9470 prior to the release of Australia’s trade figures. Trade balances for April fell slightly short of expectations with a surplus of A$28m vs. estimates of +A$100m. Despite the bearish news Aud/Usd was able to recover to 0.9510 but renewed pressure has since pressed the pair close to the session low - 0.9475 current.
Gbp/Usd has slipped back below 1.5400 and the Euro spent the session trading between 1.3075 and 1.3100 as the markets waits for word from the Bank of England and the ECB’s on interest rates. Early in the session Usd/Jpy dipped to 98.85. The pair rebounded to 99.50 where selling interest capped further gains. The pair has since slipped back to 99.20