AUD Increases Over Night

Last night the Australian Dollar increased massively after interest rates were cut by 0.25 percent. The cuts take the cash rate to the lowest its been since October 2009.

US manufacturing data released overnight had boosted the local currency.
We saw some key manufacturing indicators, and on balance, they've seemed less gloomy than expectations.

That's started the quarter on a relatively positive note.
The equity market posted good gains, commodity prices were up, and a general risk-on sentiment pulled the Aussie dollar higher.

Overnight, the Institute of Supply Management in the US said its index of factory activity rose 51.5 in September, from 49.6 in August.
In China on Monday, the NBS purchasing managers' index (PMI) showed a slight rise in September to 49.8 from 49.2 in August.

Pound To Australian Dollar - 1.5675
Euro to Australian Dollar - 1.2529
US Dollar to Australian Dollar - 0.9704

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AUD increases Slightly

 THE Australian dollar is slightly lower as investors take profits following a six-day rally.

The local currency surged last week after the US Federal Reserve announced a new round of economic stimulus and a German court said the European Central Bank (ECB) bailout fund was not unconstitutional and Berlin could participate in it.

There's definitely going to be a level on the top side where people may be looking to take profits, unless there is some further push higher.

On Friday, credit-research firm Egan Jones cut its rating for US government debt to AA minus from AA.

It will be interesting to see how the market absorbs that news.

I'm not sure if that is the reason behind this pull-back in the Aussie dollar, but I wouldn't be surprised that, at the start of the week, markets are just booking profits, taking a little bit of risk off the table and seeing what transpires.

Tomorrow, the Reserve Bank of Australia will release the minutes of its September board meeting, where it kept the cash rate at 3.5 per cent for the third month in a row.

Pound To Australian Dollar - 1.5400
Euro to Australian Dollar - 1.2466
US Dollar to Australian Dollar - 0.9494

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THE dollar is higher ahead of a crucial meeting of the US Federal Open Market Committee (FOMC).
At 12pm AEST, the dollar was trading at 104.84, up from 104.72 at yesterday's close.

We've risen along with other risk assets and the euro, There's probably a bit of relief since the Dutch elections have finished up without any issue.

Traders are probably also taking up positions before the FOMC meeting.

Pro-European parties were handed a significant victory at the Dutch elections on Wednesday (European time), including a win for prime minister Mark Rutte.

The FOMC meeting was a crucial event for global markets, with expectations that quantitative easing would be announced.


I wouldn't be surprised to see some weakness in the Aussie dollar going into it, because expectations are pretty high that we are going to get an open-ended asset purchase taking place.

Pound To Australian Dollar - 1.5435
Euro to Australian Dollar - 1.2331
US Dollar to Australian Dollar - 0.9541

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AUD Increases over the Weekend

The Australian Dollar continues to trade higher after weak US job figures and European plans to support the weaker and struggling economies. Weak US Non-Farm pay rolls provided a strong platform for the AUD to increase on Friday, and this was maintained across the weekend.

Also helping the Australian Dollar was the news from the ECB that bigger European countries would continue to buy bonds off of the weaker economic countries in the region. This is in the hope to continue to stimulate the European economy and keep things moving.








Pound To Australian Dollar - 1.5465
Euro to Australian Dollar - 1.2345
US Dollar to Australian Dollar - 0.9657

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Dollar Unchanged After Quiet Day

The Australian Dollar has gone relatively flat after a very quiet days trading. It looks as though markets are waiting for a key address on Friday from the Federal Reserve Chairman that could hint further moves to stimulate the American economy.

The Fed chairman has used the annual speech to signal the Fed's policy intentions and markets are hoping for an indication the US will undertake a fresh round of quantitative easing. Traders could be left disappointed by the speech.


Pound To Australian Dollar - 1.5265
Euro to Australian Dollar - 1.2113
US Dollar to Australian Dollar - 0.9646

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Australian Dollar Drops Off

 The Australian Dollar is lower over the weekend, due to cautious investors ahead of the summit of Central Bankers next month. There are still strong rumours that Quantitative Easing is on the cards for next month and that further economic stimulus will cause the dollar to drop considerably. 

IG Markets institutional trader Chris Weston said it is not just the dollar that has been falling ahead of the Jackson Hole get together.

"It's everything across the curve, we've all seen risk currencies falling across the day," Mr Weston said.

"It looks like we're not going to get any strong definitive rhetoric from Ben Bernanke this weekend, he might lay out the policies he has at his disposal but to get a clear framework for QE3 from Jackson Hole is probably less likely and people are just taking a few of those profits off the table today."

Pound To Australian Dollar - 1.5195
Euro to Australian Dollar - 1.2032
US Dollar to Australian Dollar - 0.9637

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Australian Dollar Increases Against The Pound

Over night the Australian Dollar has increased against the pound due to the worst set of manufactoring figures coing out of China for almost 9 months. With the Aussie Dollar still being weak from the US minutes a day earlier, this made the pound a lot stronger and therefore we have seen a huge increase overnight.

We have seen some large profit taking, the biggest fall in US stocks in a month so that hurt the Aussie dollar, but it is being supported by a strong euro and quite strong gold price.

Pound To Australian Dollar - 1.5235
Euro to Australian Dollar - 1.2043
US Dollar to Australian Dollar - 0.9595

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