Lawrence Villamar

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.

Ahead: In Australia, data on export and import prices is released. In the US, data on existing home sales is released.

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

Financial stocks led major indexes higher early Thursday afternoon as investors digested stronger bank earnings as well as a rush of U.S. economic data and a pair of well-received European bond auctions.

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In Australia, monthly employment data is released. In the US, consumer prices, housing start, weekly jobless claims and the Philadelphia Fed business index are all released.

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

U.S. stocks pushed toward six-month highs as home-builder sentiment hit its highest level since 2007, and generally positive corporate earnings bolstered shares.

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.

U.S. stocks gained Tuesday after strong economic data in the U.S., China and Germany fueled optimism over the pace of global economic growth, setting up stock indexes for their highest close in nearly half a year.

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.

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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.

European stock markets rose Monday, as the French government successfully sold Treasury bills and investors shrugged off last week's news that Standard & Poor's downgraded the credit ratings of nine euro-zone nations, including France, Italy and Spain.

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.

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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.

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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.

The US mortgage market index rose by 4.5pct last week with the purchase index spiking 8.1pct higher.

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

Poverty rates are on the rise in the Western world, as recession, rising fuel costs and austerity cuts to social welfare benefits, take their toll on the most vulnerable people.