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Good levels to buy US dollars with the AUD.

Written by Sam Coxhead on November 2nd, 2012.      0 comments

4:05 PM (NZT) The Australian dollar has seen periods of appreciation against the US dollar this week. Solid manufacturing numbers from China were certainly a positive for the AUD, given its close correlation with Chinese import demand. The big questions is whether or the RBA ease the cash rate to 3.00% at Tuesdays meeting, or the next one in December. It does feel like the AUD appreciation could try and continue into next week. This provides opportunity to access good value buying of US dollar with AUD in the short term. Next Thursday employment numbers will also be closely watched in Australia. Obviously the US election will be of particular baring in the coming week. Each candidate presents a different economic policy option for the voting population, and the result will certainly be of direct impact on the economy in the short term at least.
 
The current interbank midrate is:                                                  AUDUSD 1.0398 
                                                                                         
The interbank range so far this week to date has been:        AUDUSD 1.0321 – 1.0419
Topics: AUD USD
 

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