Global stocks and commodities rebounded ahead of one of the most awaited economic events of the week Jackson Hole symposium.
This information from European union were important, but traders are looking at the OPEC, which have meeting today. OPEC reported hesitation to cut their output from current 1,2 million barrel per month to 1,6 million barrels.
The Australian dollar recovered from the previous week losses against the US dollar. The currency pair plunged to a more than a 10-month low of 0.7106 on Friday.
Good traders manage the downside; they don’t worry about the upside- Mark Minervini.
AUDNZD slip to a fresh monthly low of 1.0433, I expect the pair is likely to see more volatility going forward.