The AUD/USD bounced strongly from the lows on Friday after the US’s ISM manufacturing index came in well above expectations. In the short term, with the US closed for Independence Day tonight, ANZ jobs and retail sales will set the tone for the Aussie. Any pullback toward 1.0650 is likely to be seen by the market as a buying opportunity.
The Australian Dollar as benefitted from Greece’s rescue package and strong US manufacturing data for June to start the week firmly after touching a high of 1.0788 on Friday night.
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Data released out the Australian economy yesterday showed private sector credit rose by a disappointing 0.3 percent for the month of May.
The Aussie’s monster move higher has been capped just below resistance at 1.0760/80 and from here there is the expectation in the market that we will see a pullback to support before the next step higher. Support currently seen at 1.0600/50.
The Australian Dollar opens higher against the greenback today at 1.0670. During yesterday's domestic session, the Aussie traded in another narrow range between 1.0515 and 1.0550 but came to life once the Greek parliament passed the much-talked-about budget cuts worth EUR78-billion over the next five years.
The Aussie surged overnight on the optimism generated by the passages of the Greek vote. The Aussie broke above the upper side of the descending triangle and this now changes the market view to bullish.
The Australian dollar has risen overnight, trading to a high of US$1.0685 following the news that the Greek Parliament had passed the much needed austerity package.
The Australian Dollar opens sharply higher today at US105.30 cents on the back of stronger global equity markets and commodity prices overnight.
The Aussie produced a solid bounce over the last 24 hours and, seen in the light of the false break below 1.0460 on Monday night, this produces a slightly more bullish picture.
The AUD has opened higher this morning and is currently trading at USD1.0539 following an improvement in risk appetite and confidence in financial markets overnight.
The AUD has opened slightly higher this morning, currently trading at USD1.0460 after hitting a 6 week low overnight.
The Aussie gave traders several opportunities to short up at resistance at 1.0460 over the last 24 hours, but the late rally has turned the picture slightly more bullish. That said, the Aussie remains in a clear downtrend, and therefore traders will be looking to stay focused on the short side. Resistance now moves higher to the weekly highs at 1.0490.
The Aussie finally gave way to selling pressure yesterday and hit a 10-week low of 1.0410 against the U.S. Dollar as concerns over the debt situation in Europe continue.
The Aussie got up to resistance at 1.0600 on Friday before reversing sharply lower. We’ve opened Monday morning on a downbeat note and the AUD/USD has just broken below key support at 1.0460. This sets up the pair for further downside, with traders looking for new shorts on any move back to 1.0460.
The Australian dollar has opened below 1.0500 this morning as Greece and it’s sovereign debt issues continue to attract attention of the financial world.
The Australian share market rose slightly in mixed trading before the weekend, with gains in financials, consumer staples and materials offsetting falls in telco, utilities, industrials and energy stocks.
It was no surprise that Bernanke did not dare utter the words QE3 on Wednesday's press conference. Yet, there was no need to refer to further easing when the FOMC already downgraded its growth outlook for the 3rd successive meeting.
Like many other instruments, the Aussie is at a crossroads this morning, with the bearish picture clouded by last night’s sharp reversal. The rejection of lows below 1.0480 could be seen as bullish, but the overall trend remains lower, and traders will be looking to take new shorts up around 1.0600.
The Australian dollar has opened lower this morning as traders moved away from high risk assets such as the AUD overnight.
Traders were content to play the ranges once again during yesterday's local session with buyers of the Aussie emerging down at 1.0530 - not far from the key support level around the 1.0480 region.
The annualised growth rate of the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity three to nine months into the future, was 2.7% in April 2011 below its long term trend of 3.1%. The annualised growth rate of the Coincident Index was 0.3%, well below its long term trend of 2.9%. The growth rates in both Indexes have seen significant downward revisions due to the incorporation of March quarter data.
The Australian Dollar took a tumble during yesterday's domestic session after the June minutes of the Reserve Bank policy meeting revealed there was no urgency to raise rates.
The Aussie remains trapped in the range with even yesterday’s dovish RBA minutes proving little impetus for the market to
break out of its trading bracket.
The Australian Dollar has opened around the USD1.0600 level this morning as stock markets and base metals rallied overnight on the back of a positive result in the Greek parliament.
The Australian Dollar drifted lower throughout the Asian Session yesterday against a broadly stronger Greenback. Following a positive close on Friday the Aussie Dollar traded as low as 1.0495 during the afternoon as losses in Asian Equities and softer commodities contributed to the currency's weakness.
Still no clear change in market sentiment towards the Aussie, with the pair respecting the range with support at 1.0480/500 and resistance at 1.0640.
Late during our trading session yesterday the AUD once again tested USD1.0500, but has since rebounded after developments out of Greece helped reassure markets.
The Australian Dollar drifted lower throughout the Asian Session yesterday against a broadly stronger Greenback. Following a positive close on Friday the Aussie Dollar traded as low as 1.0495 during the afternoon as losses in Asian Equities and softer commodities contributed to the currency's weakness.
There’s been no real change on the Aussie, with the local currency pushing back up to resistance on Friday and it now looks ready to head back to the lower end of the range
