Tag Archives: AUD
Asian Market Summary
EUR opened in Asia this morning at $1.3050 after highs in NY of $1.3077 following yesterday’s stronger PMI data from China and a rise in global PMI to 50.8 in December. Equities picked up as some tentative risk returned along with firmer crude prices on further tensions between Iran and the US.
Market Analysis
Riskier currencies like the EUR and AUD rose in European trading Tuesday while the greenback was under broad-based pressure as the London market kicked off 2012 in a mildly upbeat mood, helped by a run of encouraging global economic data.
Market Preview – 3 January 2012
Forex Overnight: EUR trading stronger The EUR is trading higher against most key currencies, this morning, as an improvement in manufacturing activity in the major global economies, including China and Germany, boosted risk appetite amongst traders.
AUD ANALYSIS
Opened at $1.0234 and headed higher from the start of trading this morning as Asian bourses picked up and strong PMI data out of China, India and Australia all added to boost the AUD up through $1.0270 stops to a high of $1.0297.
UK Morning Briefing
Forex Overnight: EUR trading weak The EUR is trading under pressure against the majors, this morning, ahead of a report scheduled for release next week, which is likely to indicate a slowdown in the Eurozone’s manufacturing sector in December. Yesterday’s lacklustre Italian bond auction has continued to weigh on investor sentiment. At 6 am, the […]
European Morning Briefing
EUR/USD opened at $1.2961 in Asia after a bounce in the NY session from a year’s low of $1.2858. Weak demand in yesterday’s Italian auctions led a sell-off in thin market conditions, but the move proved unsustainable with short covering leading to a late rally and the EURO closing higher on the day.
AUD ANALYSIS
The AUD pushed higher in the last trading session of 2011, boosted by improving data on U.S. housing and employment. Further helping the local currency, and sentiment about the Australian economy, Australian house prices saw the first monthly rise in a year in November, buoyed in part by the first cut in interest rates from […]
New EURUSD lows: Italian auction or end of month/year fixing?
After several days of catatonic market “action”, volatility perked up yesterday and today with the Italian bond auctions and probably also due to an early start to end of month/year fixing flows in thin markets.
Australian Dollar Down
The Australian dollar dipped slightly on Thursday in holiday-thinned trade, though remained just above parity with the USD. Helping risk-sensitive assets generally was a massive lifeline to Europe’s struggling banking industry, with hundreds of euro-zone lenders taking out a total of EUR489.19 billion ($639.96 billion) in low-interest loans from the European Central Bank on Wednesday.
FX Focus: AUD and NZD – The eurozone effect
The very near-term risk of eurozone governments failing to commit to faster fiscal consolidation and the ECB failing to commit to larger bond purchases points to downside risks for the high-beta AUD and NZD, following the recent rally. But we remain constructive over the medium term for the following reasons:
FX Markets Today – National Australia Bank
At 1.3525 and 1.0150, respectively, both the EUR and AUD are around a cent above yesterday’s lows (a five-week low in the case of the single-currency).
AUD, NZD and RBNZ forecast change: The storm before the calm
The AUD and NZD have lost significant ground in recent days as global macro conditions have deteriorated further. As discussed in detail in the FX Quarterly, we expect a deterioration of the European crisis to extend the short-term underperformance of cyclical assets globally, as well as strengthen the USD because of its safe-haven status.