FOREX

By late yesterday morning the Australian dollar had fallen from opening levels of 1.0780 to 1.0680, the lowest level in two weeks. While already under pressure as investors turn away from risky assets, another incentive to sell was provided by local retail sales and trade balance figures.

The Australian Dollar has fallen another US cent overnight after the Reserve Bank of Australia kept the cash rates on hold yesterday and the release of weak economic data out of the US.

Yesterday’s break below 1.0910 produced a perfect double-top formation and the natural target for such a move is back to 1.0740. The market has paused around this level and in the near term we could see a move back toward 1.0800. Traders will be watching the price action carefully at this level for an indication of the Aussie’s future direction.

The Australian Dollar opens 2 cents lower this morning as an agreement to raise the US Debt ceiling combined with a cautious RBA Monetary Policy statement yesterday spurs a sell-off of our local currency.

U.S. stocks dropped sharply Tuesday amid fresh worries over the state of the economy, pushing the market to its longest losing streak in nearly three years and sending the Standard & Poor's 500-stock index to a 2011 closing low. T

The AUD is almost I US cent lower this morning after poor manufacturing data out of the US, and the move towards an agreement on the debt ceiling buoyed the USD.

The AUD/USD was sent sharply lower as markets became more bearish overnight. This brought the Aussie back to support at 1.0910 and traders will be watching this level carefully.

The Australian Dollar advanced yesterday as US President Barack Obama announced that party leaders had reached an agreement to raise the US Debt Ceiling, saving the US economy and broader global financial markets from a potential catastrophic default.

The Australian Dollar has calmed somewhat after reaching record highs against the Greenback last week. Friday saw the release of Private Sector Credit for June and the numbers showed households are opting to save rather than borrow in what is still a fragile economic environment.

The Aussie has pulled back and broken below support overnight, but was only able to fall back to 1.0970 before finding buying buyers. While the next 24 hours are likely to be highly volatile as news out of the US drives price action, the Aussie remains in a bullish phase while above 1.0800.

The Australian Dollar has retraced the last two day’s gains now that all markets watch the vote in the US House of Representatives on the Republican proposal to raise the country's debt-ceiling.

The Australian Dollar paused to take a breath yesterday following on from what has been a historical week for the Nations Currency.

The Aussie surged to new post-float highs after yesterday’s higher-than-expected CPI numbers. The market has since pulled back to support at 1.1010 and traders will be looking to take new longs while we trade above 1.1010. A break below 1.1010 sets up a move to 1.0950.

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The Australian Dollar hit a post float high following yesterday’s Q2 Consumer Price Index release of 3.6% (y/y), which gave the markets something to truly think about.

In what proved to be a monumental day for the Australian Dollar the nation's currency surged to an all-time post float high against its US Counterpart reaching a rate of 1.1079 late in the Asian Session.

As risk currencies become quickly overcrowded and range-bound equity indices remain the territory of traders rather than investors, silver once again appears as the notable gainer, characterised by richly similar fundamentals to gold. The only thing is that silver is trading 20% below its record high.

Consumer prices for food, clothing, and services in Australia have risen in June, triggering a record-high for the country's currency.

The Aussie’s had a monster 48 hours and there’s no reason to expect the action to slow down today. The impending major price point will be Australian June quarter CPI due at 11.30am. The market is expecting a 0.7% quarterly number (or 3.3% on an annual basis) and a higher-than-expected number could be the catalyst to break 1.1000 and beyond.

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The continued political theatre in the US over the US debt ceiling played on overnight which undermined the US Dollar.

The Australian Dollar rallied strongly yesterday as investors snapped up the higher-yielding currency. While the Dollar traded sideways in the early hours of the Asian Session Yesterday the Aussie took off mid afternoon reaching an eventual high 1.0968 against its US Counterpart.

The AUD is slightly stronger this morning as the USD continues to feel the pressure with the US debt ceiling crisis remaining unresolved.

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The Aussie pulled back to support at 1.0800 before using that level to push higher. The push upward found resistance at 1.0870 after making new two-month highs. Technically, the picture looks upbeat for the Aussie, with traders looking to take new longs on a pullback to 1.0800 or a break above 1.0870.

In what a capped a good week for the Australian Currency, data out on Friday showed import prices rose by 0.8 percent for the month of June increasing by much a larger degree than economists forecast.

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It’s going to be a tricky start to the week with market action likely to be driven by the ongoing US debt negotiations. Markets have started the week on the back foot with the Aussie falling about 30 pips on the open before stabilising around 1.0820.

The Australian Dollar has maintained its recent strength above 1.0800 this morning as markets are still frustrated by no resolution to the raising of the US government debt ceiling which has a self-imposed deadline of next Tuesday, August 2.