Australian Dollar Slides on Chinese Caution & US Housing Strength

from MoneyTrading.com.au

US Dollar has been strengthened by two drivers: (1) the credit downgrades of Greece and Spain (and potentially Ireland, all three European Union members) along with cautious Chinese Credit Approach and (2) the surprisingly strong U.S. economic data streaming substantiating the increased probability of the Fed staging an earlier withdraw of monetary stimulus than markets had expected.

We are looking for fundamentals to shape up the currency market direction in the immediate term.