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AUD/USD Trading - AIG Services index - 05 Sep 2016

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AUD/USD Trading - AIG Services index - 05 Sep 2016
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On Friday the Aussie could strengthen despite the pressure from the commodity markets.

The iron ore descended to a mark of $58 per ton, but all the major non-ferrous metals continued to rise or consolidate. The Brent oil added 2.6% on Friday.

Today, the services index from AIG showed a drop from 53.9 to 45.0 in August. In the structure of the index, the business services showed the largest drop in (46.1), the hotel industry and catering (43.2) and logistics (32.9), which tells us about the real sector.

Tomorrow, Australia will publish the balance of payments for the 2nd quarter. The forecast is -20.2 billion. against -20.8 billion . The Reserve Bank of Australia will also publish a decision on interest rates. It is expected that the current rate 1.5% won’t be changed.

How to trade binary

We would buy call options if the Aussie rises above 0.7610. We would buy put options if the pair AUD/USD falls below 0.7565.

Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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