Lawrence Villamar

The OECD leading indicator for the grouping of 33 ´´rich´´ nations has fallen for a fourth straight month from 102.1 to 101.6 in July.

Ongoing risk aversion has caused the New Zealand Dollar to post further losses against the Greenback, and after opening yesterday just below 82 cents it continues lower throughout the onshore session.

It was another volatile session for U.S. stocks, which erased a steep loss late in the day Monday after reports that China may come to the aid of the embattled euro zone.

The AUD/USD looks to be consolidating in the near term and traders will be looking to use support at 1.0580 and resistance at 1.0660 for intra-day trades. Overall, the market sentiment is neutral, with a slight bias to the upside.

US wholesale inventories rose by 0.8pct in July, slightly above forecasts, and compared with a 0.6pct rise in June. Meanwhile China´s trade surplus narrowed to US$17.8bn with imports up 30.2pct on a year earlier with exports up 24.5pct.

In the absence of any local data on Friday the direction of the Australian Dollar was inevitably going to take its direction from offshore events.

U.S. stocks closed sharply lower due to fresh worries of a Greek default, the surprise resignation of a European Central Bank executive board member and concerns about President Barack Obama's jobs plan.

The AUD/USD looks to be consolidating in the near term and traders will be looking to use support at 1.0580 and resistance at 1.0660 for intra-day trades. Overall, the market sentiment is neutral, with a slight bias to the upside.

The US trade deficit narrowed from $53.1 billion to $44.8 billion in July. The 13.1pct decline was the biggest monthly drop since early 2009. US exports rose 3.6pct while imports eased by 0.2pct in July.

The Australian Dollar fell against all of its 16 major counter-parties after a government report released yesterday showed the Official Unemployment Rate unexpectedly rose to 5.3 percent

U.S. stocks declined Thursday, eroding some of the prior session's advance, as Federal Reserve Chairman Ben Bernanke's remarks failed to calm investor jitters over the state of the economy.

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The AUD/USD looks to have found some support at 1.0485 and this now sets up a move to the recent highs at 1.0780. The 1.0600/20 levels can be seen as intra-day support for short-term longs.

The US Fed Beige book suggested that the US economy expanded at a modest pace across the 12 surveyed districts. However activity levels were mixed and showed signs of weakening.

The Australian Dollar gained considerable ground yesterday following three days of consecutive losses.

Stocks snapped a three-day slide as investors latched onto glimmers of hope in headlines from Germany, Italy and the U.S. The Dow Jones Industrial Average surged 275.56 points, or 2.47%, to 11414.86, closing at the day's highs.

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The AUD/USD experienced a volatile night on the back of the SNB invention. The AUD/USD was quickly forced up into resistance at 1.0560/600 before reversing more than 200 pips. From here, the focus will remain on the down side, with a move back to 1.0570 seen as sellable. A break of 1.0485 will also be a selling opportunity.

The Australian is marginally lower this morning and is currently trading at USD1.0510 as Asian and European equity markets posted falls.

The US ISM non-manufacturing survey rose from 52.7 to 53.3 in July - ahead of expectations. The pickup in service sector activity was supported by a rise in new orders and exports. Encouraginly the prices index also rose.

The Reserve Bank of Australia lefts it’s official benchmark interest rate unchanged yesterday at 4.75 percent, matching the expectations of the majority of investors. With such decisions marking the ninth straight month without any changes in the cash rate, Governor Glenn Stevens did go further to emphasize that financial markets in recent times have been increasingly volatile and that domestic growth prospects remain uncertain given the softer outlook of both the US and European based Economie...

U.S. stocks dropped for a third straight session as investors continued to flee risky assets and the Standard & Poor's 500-stock index notched its worst ever three day start to September

The AUD/USD has now broken below 1.0600 and this changes the market’s view to bearish. With the collapse in confidence in Europe overnight, we can expect the bearish sentiment to continue. Today’s RBA decision will be crucial.

The AUD is lower this morning, currently trading at USD1.0515 as Asian and European equity markets posted large falls.

US financial markets were closed on Monday for the Labor Day holiday. On Friday the Dow Jones fell by 253pts or 2.2pct with the S&P 500 down by 2.5pct and the Nasdaq lost 65.7pts or 2.6pct. Over the week the Dow fell by 0.4pct and the S&P 500 lost 0.2pct while the Nasdaq was largely flat.

Asian Stocks fell for a second day yesterday after a US Jobs Report released overnight Friday triggered a negative flow-on effect to local Equity Markets.

European stocks plunged Monday and the euro tumbled, as investors piled into safe-haven assets amid rising fears over Europe's sovereign debt crisis and economic growth on both sides of the Atlantic.

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