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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Australian Dollar Rises by 1%

 Last night, the Australian Dollar rose almost 1 US Cent following comment that came out of the US central Bank's minutes. These comments went against what was originally thought and therefore became US Dollar negative Aussie Dollar positive. This came after Quantitative easing was suggested it was going to be in place by next month to try to circulate more money in the US Economy.

Over the next few weeks there is also quite a bit of data coming out of the US and Australia, however, it doesn’t look as though it will be positive enough for the Australian Dollar to back away from its current high. Therefore it looks as though Quantitative Easing is a certainty in the US for September.

Pound To Australian Dollar - 1.5140
Euro to Australian Dollar - 1.1945
US Dollar to Australian Dollar - 0.9508

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Australian Pound Slightly Lower

The Australian Dollar has backed away from the recent highs last night ahead of an important data release from the US Central Bank tonight. It has gone from the recent high of 1.5130 to 1.5100 against the pound.

With the news that the US Dollar strengthened slightly because it was suggested the was going to be no more Quantatitative easing in QE3, the aussie dollar has fallen off slightly. With data this week coming out of the US backing up these claims, it looks as though the minutes meeting could be positive in US Dollar favour, this is why the Aussie Dollar has backed up slightly.

There is also a meeting coming up between the German Chancellor Angela Merkel and French Prime Minister Francois Hollande with regards to the future of the eurozone. This has seen euriopean market slow as they are the are a bit concerned about Greece and Spains future in the eurozone. There is still a huge question mark of how they are going to support such high debt levels.

Pound To Australian Dollar - 1.5115
Euro to Australian Dollar - 1.1895
US Dollar to Australian Dollar - 0.9580

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Australian Dollar See's High

 
As the Markets open on Monday Morning for another week of busy trading, the Australian Dollar is slightly down from the highs of last week’s rally. With relatively strong data coming out of the USA on Friday following the University of Michigan Index figures.

Based on the better crop of US data we've seen over the past week, the reduced likelihood of full-blown QE3 (quantitative easing) is supporting the US dollar, and that's causing the Australian dollar to retreat a little bit. 

Whilst the Australian Dollar is slightly down, this has not affected the rate so much that it has dropped completely off, we have only lost about 10-20 pips. The dollar has been fairly subdued due to the lack of local data and a quiet weekend market.

However, it is not all doom and gloom, the release on tomorrow of minutes from the Reserve Bank of Australia's August 7 meeting could mean a lot of movement in the markets and therefore benefit the Aussie Dollar. 

Pound To Australian Dollar - 1.5030
Euro to Australian Dollar - 1.1805
US Dollar to Australian Dollar - 0.9570

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Hi all,

The Australian Dollar today is still one of the strongest currencies of the day even after weak chinese numbers and expected to be quiet until we hear more from the ECB and the FOMC meetings next month. 

Whilst this is the greatest news for those needing to sell australian dollars it is great news for exporters. We are however looking for the pounds to australian dollar exchange rate to head back into the 1.5500 area over the coming weeks as the euro crisis carries over another month.

Pounds to Australian Dollars = 1.4900

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Australian Dollar Outlook steady for 2011

THE Australian dollar has ended lower as investors dumped risk assets following a slump on Asian equity markets.

At 5pm australian dollar exchange rate was trading at 98.79 US cents, down from Friday's close of 99.00 cents. Shortly after, the local unit traded between 98.65 US cents and 98.90 cents. UBS interest rate strategist Matthew Johnson said the australian currency moved sideways during domestic trade. "The australian currency is trading in such a small range due to low levels of liquidity," Mr Johnson said.

He said there had been a slight move towards safe haven assets due to increased tensions on the Korean peninsula and falls in equities. The Australian share market finished the day weaker after sagging bank stocks outweighed gains to the energy sector.

The Australian bond market ended firmer after investors moving into safe haven assets as military tensions on the Korean peninsula increased.

The Australian dollar closed at 82.86 yen, down from 83.18 on Friday and at 75.07 euro cents from 74.56 previously. At 4.30pm AEDT on the ASX 24, the March 10-year bond futures contract was at 94.430 (implying a yield of 5.570 per cent), up from Friday's close of 94.365 (5.635 per cent). The March three-year bond futures contract was at 94.730 (5.270 per cent), up from 95.700 (4.300 per cent).

Mr Johnson said Australian bonds were relatively flat after a rally in US Treasuries. "Weaker equities have caused US Treasuries to rally and Australian bonds have followed suit," Mr Johnson said.

"The ten years have been stronger than the three years, given the offshore factors. There's a little more tension on the Korean peninsula, so there's been a move away from risk on the equity market."

Mr Johnson said bonds would continue to trade in a narrow range in the lead-up to Christmas. "At this time of the year you'd expect the thin trading volumes."

The 90-day bank bill closed at 4.980 per cent down from 5.020, while the 180-day bank bill closed at 5.170, down from 5.210.

At 4pm AEDT, the RBA's trade weighted index was unchanged from Friday's close of 74.8.

Read more: www.news.com.au

Pounds to Australian Dollars = 1.5700
Euros To Australian Dollars = 1.3300
Australian Dollars to US Dollars = 1.0000
Australian Dollars to New Zealand Dollars = 1.3300

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