Shortly after Mr Obama's speech, China reported its consumer price index (CPI), a key measure of inflation, had risen 6.2 per cent in August from a year earlier, down from July when it hit a more than three-year high of 6.5 per cent.
AUD/USD opened at 1.0572 and has targeted higher levels, hitting session highs above 1.0630 before a moderate pullback, last at 1.0615. Support levels lie at 1.0570, 1.0530 and 1.0550, while, to the upside, resistance comes in at 1.0640, 1.0670 and 1.0710.
the Australian dollar is likely to trade between 105.50 US cents and 107 US cents.
Meanwhile, the Australian bond market was weaker.
At 12pm AEST, the September 10-year bond futures contract was trading at 95.720 (implying a yield of 4.280 per cent), down from Thursday's 95.740 (4.260 per cent).
The September three-year bond futures contract was at 96.245 (3.755 per cent), down from 96.290 (3.710 per cent).
On Tuesday, the 10-year contract traded as high as 95.840 (4.160 per cent), which was the highest point for the latest contract since March 23, 2009.
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services. www.livetradingnews.com