FOREX

Rising on their strongest levels since May, the Australian and New Zealand dollars have recorded early gains today as interest rates talk and an improving global economic outlook.

The Australian dollar fell to the lowest in more than a week as Prime Minister Julia Gillard set an election on August 21, which analysts said will prompt the central bank to refrain from raising interest rates next month.

Hot on the heels of the FOMC downgrade of U.S GDP softer than expected Chinese data triggered a selloff of higher yielding Currencies in Asia as concerns over the potential slowdown in global growth resurfaced.

The AUD has had a relatively quiet trading session overnight and we're likely to see a similar trading pattern this morning as the local market awaits the release of a wave of Chinese data due out around lunchtime.

Consumer sentiment in Australia markedly improved rising to 11.1% the most in 13 months, following 3 months of decline.

The Australian Dollar has opened over one US cent higher this morning and is trading above USD0.8800.

The Australian Dollar climbed to its highest level in 3 weeks overnight as equities bounced upon expectations US corporate earnings will beat estimates.

The AUD has opened slightly firmer this morning after some nervousness from traders yesterday ahead of the US reporting season saw the AUD move back towards USD0.8700.

Market speculations that the growth of the United States' economy will stagger to a point of a slowdown have provided a boost to the Australian and New Zealand dollars.

IGMarkets Australia Ltd has expressed confidence on Tuesday that its local contracts-for-difference (CFD) trading presently stands on solid ground as it gave assurance that ample disclosure of risks are being observed and the company even procedurally vet all clients who open accounts.