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Risk aversion weighs on the AUD against the US dollar

Written by Sam Coxhead on December 16th, 2011.      0 comments

4:32 PM (NZT) In the absence of any real Australian economic data of note, the AUD has been moving around on the wider market risk appetite. For the most part risk aversion has ruled this week, which translated into a weaker AUDUSD. Overnight some slightly better than expected economic data in the UK, Europe and the US, saw the risk aversion taper off and the AUD take back some of the lost ground against the US dollar. In the coming weeks lower levels of liquidity will see moves accentuated. Next week’s data in Australia sees the focus mainly on the release of the monetary policy meeting minutes from last week’s RBA cash rate decision. In the US, various housing numbers, final 3rd quarter GDP readings, and durable goods orders numbers will be watched closely.  Europe remains the overall key to market sentiment in the short term,  and any news from Europe will certainly be a driving factor for sentiment.
The current interbank midrate is:                                                            AUDUSD .9920                                                                                            
The interbank range so far this week to date has been:                 AUDUSD .9857 – 1.0215