Lawrence Villamar

The Aussie fell sharply last night but found support at 1.0480/500 in what now appears to be a bullish wedge formation. While taking long positions is against the short-term trend, traders expect to see a small counter-trend rally in the near term. Traders will be looking to promptly take profits on any long positions, while a break of 1.0480 will be very bearish.

The AUD is weaker this morning after some poor data releases and continued concerns about Europe saw investors move towards the USD in safe haven trading.

U.S. stocks suffered steep losses as investors' concerns over the financial health of European governments triggered a flight to safer assets. The Dow Jones Industrial Average dropped 130.78 points, or 1.05%, to 12381.26, with all but one component, McDonald's, in the red. Technology and energy stocks led the Standard & Poor's 500-stock index to a slump of 15.90 points,

Major stock indexes fell for a third straight week as worries about the Greek debt situation percolated and troubling profit reports from Gap and Aeropostale prompted concerns about consumer spending.

After a modest 0.5 pct gain last week, the Australian sharemarket is pulling back at lunch with the All Ordinaries index (XAO) down 1.56 pct or 74.9 pts to 4732.8. All sectors are trading in the red with the financials the worst after 2.5 hours of trade.

The Australian Dollar has opened slightly lower this morning following a sharp sell-off of the EUR on Friday night.

The Aussie dollar has been dominated by the short-term downtrend that has been in place since early May and we can see the downtrend line comes into play just above 1.0700. This has confluence with the horizontal resistance also near 1.0700 and traders will be looking to take new shorts around this level. Support is seen near 1.0500.

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The Australian Dollar has opened slightly stronger this morning, despite weakness in commodity prices overnight.

Major stock indexes staged their second straight gain Thursday as a doubling in LinkedIn's share price spurred hopes that initial public offerings can lure more investors into risk assets.

AUD is slowly grinding higher as a weaker USD across the board is offset by the fact that commodities have struggled this week. However, traders still seem keen to trade from the short side unless we break up through 1.0710/20 region expecting at least one more push towards the 1.0500/20 lows next week.

The high Australian dollar is here to stay. According to Australia's new Treasury Secretary, Australians should get used to the high dollar and many Australians are already finding ways to take advantage of the upward trend.

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AUD broke briefly higher in Asia but didn’t go on with it and drifted lower in fairly aimless trade. The rebound came on the back of the commodity recovery and while this continues there seems to be a battle ensuing and choppy trading is expected over the coming sessions until we get some clear direction as to where the next move will be.

The Australian Dollar finds itself drifting in a tight trading range, which is a bit of a first for quite some time.

U.S. stocks snapped a three-day losing streak Wednesday as the Federal Reserve's minutes showed the central bank officials are in no hurry to tighten monetary policy

After a slow start to trade, the Australian sharemarket is managing to gain for the second straight session at lunch. The All Ordinaries index (XAO) is up 0.3 pct or 16.1 pts to 4700 thanks in part to the mining and energy sectors creeping into positive territory after opening lower this morning.

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AUD failed yet again to get through 1.0500 and the reversal was swift on the release of the US housing data and AUD quickly bounced back to the highs. Traders seem content to play the range from the short side and with 1.0630/40 resistance so close it is tempting the sellers first up in Asia, but they are keeping a tight stop as a break of 1.0660 is quite bullish.

U.S. stocks stumbled for a third day in a row as weak economic data and a negative outlook from Hewlett-Packard heightened fears about a slowdown in the global economic recovery.

Unfortunately, at lunch the Australian sharemarket has not yet managed to come back after falling by over 1.3 pct yesterday. The S&P/ASX 200 index (XJO) is up a modest 0.1 pct or 4.4 pts to 4654.4.

AUD had and extremely choppy night with an early rally in Europe on the positivity surrounding the Portugal rescue packageseeing risk currencies bought strongly. This euphoria didn’t last long however and as commodities got sold aggressively the AUD also felt the effects. Today seems dependant on what the RBA has to say in their minutes and looks range-bound prior.

The AUD has a somewhat choppy session overnight, but has opened this morning fairly unchanged despite lower commodity prices and falls in the offshore equity markets.

Net capital inflow to the US was US$116 billion in March, up from US$95.6 billion in February and US$38.7 billion in January. Chinese holdings of treasuries eased from $1.1541 trillion to US$1.1449 trillion. The National Association of Home Builders index was unchanged at +16 in May.

Traders were content to play the ranges during yesterday’s Asian session once support kicked in around the US105 cent area. The Australian Dollar moved back up towards 1.0560 despite economic data revealing that the number of home loans approved in Australia fell to a 10-year low in March.

The technology and consumer-discretionary sectors led stocks lower Monday as weak economic data spurred worries of a softening economy and Europe's debt crisis kept investor sentiment in check.

It was a tough start to the week today with the Australian sharemarket hitting its lowest level in just under 2 months. The ASX 200 index (XJO) fell 1.3 pct or 61.4 pts to 4650 while the broader All Ordinaries index (XAO) slumped 1.3 pct or 63.1 pts to 4724.2.

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After a few hours of trade, the Australian sharemarket is down 1.2 pct or 55.7 pts to 4731.6. All sectors are trading lower, with the miners, oil and gas producers and major banks dragging the broader market significantly lower.