The AUD posted strong gains against the greenback overnight, moving into the 96 cent range, as the prospect of further taper delays increased. In recent times the Aussie has also been supported by stronger commodity prices, improved Chinese data and reduced expectations of a local rate cut. Will we see this resurgence continue? According to our Client Sentiment Indicator, CMC’s top clients are divided. 54% of are long the AUD/USD, but the combined value of their trades equates to only 34% of the total open positions within this instrument. Time will tell. (The Client Sentiment Indicator may be accessed by clicking on the arrow next to the instrument below and selecting from the drop down menu).

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