FOREX

This helps explain the weaker than expected 2.0% rise in personal consumption expenditure (PCE), following 1.7% and 0.7% in Q3 and Q2 respectively. The PCE chart (red graph) shows a potential dead-cat bounce, which may fail to regain the 3.6% high attained in Q4 2010. Finding the growth will be challenging, especially as stalled US budget negotiations risk forcing $1.2 trillion sequesters (automatic cuts in discretionary spending) starting this year.

Bell FX Currency Outlook: The Australian dollar has opened above USD1.0600 against the Greenback this morning after hitting a three month high of USD1.0688 overnight.

With most of the country focused on lighting the BBQ and chilling the beer, the Aussie dollar had a relaxing Australia Day, for its onshore session at least

Bell FX Currency Outlook: Having reached a 3 month high the previous evening, the Australian Dollar has retraced 1 US cent overnight as the markets reacted to ongoing negotiations between Greece and its private creditors as well as IMF warnings on the European crisis.

Bell FX Currency Outlook:The AUD has risen to a 3 month high overnight, hitting USD 1.0570, as renewed optimism out of the European region sees an increase in demand for the riskier AUD.

US existing home sales rose by 5.0pct to a 4.61 million annual rate in December, close to forecasts centred on a result near 4.65 million. The weekly Economic Cycle Research Institute index rose from 121.2 to 123.4.

Following a relatively flat start to the day in which local equity markets gained around half a percent, the Australian Dollar weakened slightly against its US Counterpart reaching a later afternoon low of 1.0382.

The Australian Dollar has opened just under the 1.0500 level as financial markets await a final resolution with a group of private creditors who hold some of the Greek sovereign debt.

Risk sentiment rallied during the offshore session following successful bond auctions in France and Spain.

The Australian economy lost 29,300 jobs in December, a report from the Australian Bureau of Statistics showed yesterday, as a strong Australian Dollar and growing economic concerns around the globe continue to hit the local economy.

The Australian Dollar has opened firmer against the greenback trading back above USD1.0400 after seeing a low of USD1.0368 overnight.

An increase in local consumer sentiment provided the Australian Dollar with a mild degree of support during local trading hours yesterday.

Bell FX Currency Outlook: The Australian Dollar remains above USD 1.0400 as US equity markets ground higher following the release of sound US economic data and plans by the IMF to bolster funds for bail-out requirements.

Overnight gains posted on the S&P and most of Europe's stock markets are providing a good starting point for Australian markets on Thursday after a flat finish yesterday.

Risk was back on the table yesterday and the Australian Dollar rallied higher along with other commodity linked currencies.

The Australian Dollar rallied through USD 1.0400 overnight following the Chinese GDP results, but has since met resistance and is back to yesterday’s levels.

The Australian share market rose the most in two weeks Tuesday as China's stronger-than-expected GDP fuelled expectations of a soft landing for Australia's biggest trading partner, and as sovereign credit rating downgrades by Standard & Poor's failed to spook European debt markets.

The AUD is largely unchanged this morning still firmly entrenched in our recent trading range.

The Australian Dollar gapped immediately lower yesterday morning as local traders corrected their positions following a string of credit downgrades out of Europe of Friday.

The AUD is slightly higher this morning, currently trading just above USD1.0300, despite a fairly lacklustre offshore session due to the closure of US markets as they celebrate Martin Luther King Day

The AUDUSD once again remained in its recent trading range after testing the bottom side of it.

After starting at a rate of 1.0331 against its US Counterpart, the Australian Dollar enjoyed a relatively quite day of trading during the domestic session, drifting around 30 basis points higher to reach an eventual high of 1.0367.

The AUDUSD consolidated again overnight in current range testing resistance at 1.0380 after the ECB said its measures to stem the Eurozone debt crisis were proving effective.

US retail sales increased by 0.1pct in December after rising by an upwardly revised 0.4pct in November. US jobless claims rose by 24,000 to 399,000 in the first week of 2012 - a six week high.

Following a relatively flat start to the day the Australian Dollar came to life late in the afternoon session reaching an eventual high of 1.0377 against its US Counterpart.

Bell FX Currency Outlook: Successful bond auctions in Italy and Spain, coupled with positive comments from ECB president Draghi improved market sentiment overnight.

In what was a relatively uneventful day for the Australian Dollar traders seemed unwilling to offer much support for the higher-yielding unit.

Bell FX Currency Outlook: The AUD is slightly firmer again this morning after a night dominated by a weakening EURO, which has reached new 16-month lows against the US Dollar.

We saw the Aussie pullback overnight but the move lower fizzled out before getting back to major support at 1.0200. Traders will remain focused on the upside while 1.0200 holds. A break of 1.0400 is also obviously bullish.