Lawrence Villamar

The AUD/USD benefited from the USD weakness on Friday pushing back to three-week highs at 1.0780.

Shares tumbled by over 2 pct yesterday, marking the biggest daily percentage fall in close to 12 months. It is a much better day for the market today however, with the All Ordinaries index (XAO) down a modest 0.3 pct or 16 pts to 4667.2.

AUD recovered its losses from yesterday placing the bulls in control after better than expected retail sales figures for month of April and a general risk on environment overnight. Price needs to overcome the 1.0710/15 static resistance level toconfirm continuation of uptrend.

US factory orders fell by 1.2pct in April, broadly in line with economist forecasts. US claims for unemployment insurance (jobless claims) fell by 6,000 in the latest week to 422,000. Economists expected a result near 415,000.

The Australian dollar has opened slightly higher this morning as poor economic data weighed on the US currency.

The Aussie moved higher in onshore trade yesterday as Retail Sales posted a 1.1% increase in April, up from March’s 0.3% decrease.

U.S. blue-chip stocks dropped for a second straight session Thursday after another dose of soft economic data worried investors as they readied for a key jobs report.

U.S. stocks plunged Wednesday, suffering their biggest drop in almost a year, as a slew of downbeat reports prompted fears the economic recovery was running out of steam

The Australian sharemarket is having a very tough day today after receiving a weak lead from global markets overnight. The All Ordinaries index (XAO) is down 1.7 pct or 81.9 pts to 4706.7. All sectors are currently lower, with the financials, miners and energy stocks the worst.

The AUD/USD rose again to 1.0750 only to slide with stocks and commodities in the American session to find support around1.0600 area. Loss of 1.0580 support today is needed to confirm bearish continuation while today’s retail sales figures shouldgive us some more information as to where AUD is headed over upcoming sessions.

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U.S. stocks finished the day's session and May on a buoyant note, shrugging off a spate of weak economic data as investors cheered a new bailout plan for Greece.

A snap up of riskier assets yesterday morning saw the Aussie break comfortably through resistance at 1.0700 and reach session highs around 1.0750.

Traders keenly await Australia’s Q1 GDP numbers today which are likely to disappoint

AUD held 1.0680 support overnight identified in yesterday’s morning report to break higher in early Asian trade above 1.0710 static resistance area. Traders are calling for an increase in bullish momentum with a continuation towards strong 1.0840 area, ahead of further gains.

U.S. stocks rose Friday but failed to avoid a fourth-straight week of losses as major indexes recorded their longest weekly losing streak in more than a year.

The Australian sharemarket is continuing on its weak run, with the All Ordinaries index (XAO) down 0.1 pct or 2.6 pts to 4757.7. Shares were down by as much as 0.4 pct this morning, however have recovered over the past hour thanks to gains from the mining and energy sectors.

The Aussie has opened higher this morning but has pulled back in the first few hours of trade. A pullback to 1.0680 could see buyers step in but, with the UK and US both closed for long weekends, we might trade in a tighter-than-usual band and traders are likely to wait for confirmation before taking new positions.

The Australian sharemarket is holding onto modest gains, with the All Ordinaries index (XAO) up 0.4 pct or 17.8 pts to 4752.9. All sectors are trading higher, with the healthcare sector leading the way in percentage terms.

The Aussie pushed higher overnight and is now approaching the top of the bullish descending wedge. From here, traders will be looking for a move back to the lower end of the wedge and therefore will be looking for signs of a reversal around the 1.0640/60 level. Any break above 1.0660 is likely to be seen as buyable.

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The Australian sharemarket is stronger for the first time this week, with the All Ordinaries index (XAO) up 0.9 pct or 41.1 pts to 4625.8.

The Aussie dollar bounced back overnight after producing a false break below the bullish wedge pattern we have discussed over the last couple of days. The market would see this false break as a bullish sign and the Aussie is now expected to move back to the top of the pattern. The 1.0700/20 level provides important resistance.

U.S. stocks snapped a three session losing skid, as investors rode a boost in commodities prices to snap up shares of energy, materials and industrial companies.

U.S. stocks registered a third-straight day of losses after a mixed round of housing and manufacturing data combined with worries about Europe's debt-laden countries to weigh on investor sentiment. The Dow Jones Industrial Average finished down 25.05 points, or 0.20%, to 12356.21, its lowest close since April 19. General Electric led the blue-chip index lower, dropping 29 cents, or 1.5%, to $19.10, while American Express fell 56 cents, or 1.1% to 50.56.

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The Australian sharemarket hit its lowest level since mid-March today; with the ASX 200 index (XJO) falling 1 pct or 44.1 pts to 4584.7 and the broader All Ordinaries index (XAO) dropping 1 pct or 46.7 pts to 4661.6. Aussie shares have now fallen for the fourth consecutive session.

The Australian sharemarket is pulling back once again, with the All Ordinaries index (XAO) down 0.7 pct or 30.8 pts to 4677.5. Almost all sectors are weaker now than they were at this time yesterday and the financials are the worst performers at lunch.

The Aussie dollar pushed higher in yesterday’s session before finding resistance up at 1.0580. In the near term, this level looks to have capped gains and the market is expecting the downtrend to continue. Support is now seen at 1.0480 and a break of this level will be bearish.