FOREX

The Aussie dollar appeared to be heading back below the 82 cent mark yesterday before comments from the RBA governor Stevens sparked a wild buying frenzy in afternoon trade. Speaking at a charity lunch his comments on the prospects for the local economy he said he can “imagine more upside risks to the economy to balance out downside risks”, a signal that rates are more likely to go up rather than down from here.

With no local data releases yesterday the Aussie dollar took direction from equity markets which began their reporting season in Australia.

The greenback recovered from its earlier losses against the majors as the US equity bourses slipped into negative territory by afternoon trading.

Strong US corporate earnings and positive daily finishes in global equity markets along with a mixed bag of US economic data saw the Greenback lose ground against the Pound and EURO but hold steady against the YEN.

The Australian Dollar opens in familiar territory on Friday at 0.8120 against its US counterpart.

The Australian Dollar opens largely unchanged at 0.8160 after the domestic market's insipid reaction to yesterday's local inflation data which picked up in the June quarter by 0.5 per cent for a lower annualised reading of 1.5 per cent. With the CPI rate beneath the Reserve Bank's target range of 2-3 per cent, the door remains open for another interest rate cut should the need arise.

The Australian Dollar opens largely unchanged at 0.8160 after the domestic market's insipid reaction to yesterday's local inflation data which picked up in the June quarter by 0.5 per cent for a lower annualised reading of 1.5 per cent.

The Australian Dollar opens largely unchanged on Wednesday at 0.8160 and is pausing for breath after six days of steady gains versus its US counterpart. During the domestic session on Tuesday, the Aussie traded as high as 0.8178 after the minutes of the RBA's July 7 board meeting painted a picture of an economy in recovery mode.

The Australian Dollar opens at 0.8150 after another session of increased risk appetite in which equities and commodities all posted gains.. In offshore trade the Aussie climbed steadily and hit a high of 0.8174. Boosting sentiment was news that New York-based lender CIT Group Inc approved a US$3 billion loan from a group of its bondholders.

Australian Dollar: After a quiet Asian session yesterday the Aussie dollar came to life overnight, rallying hard from 0.7950 to open this morning back above the 80 cent handle at 0.8035.

June sales fell for most U.S. retailers as the plunging job market and cool, rainy weather dampened interest in summer shopping for consumers, triggering concern about the back-to-school season.

Australian Dollar: The Australian Dollar opens lower on Thursday at 0.7780 in what may be the beginning of the correction we had to have.

The Australian Dollar opens lower on Wednesday at 0.7886. The local unit moved towards US80 cents late on Tuesday after the Reserve Bank of Australia (RBA) left rates on hold at 3.00 per cent in a decision that was more predictable than an NRL off-field incident.

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U.S. employers cut 467,000 jobs in June, far more than expected, while the unemployment rate rose to 9.5 percent, the government said on Thursday in a report that showed a labor market continuing to struggle with a deep recession.

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what is a rare occurrence of late the Aussie dollar remained in a narrow trading band between 0.8040 and 0.8090 on Friday to finish the week exchanging at 0.8070. With no local economic data released the AUD searched for direction from offshore threatening to break higher after better than expected German data however a rebound in demand for USD put a lid on any further advances.

The Australian Dollar opens marginally higher from this time yesterday at 0.7965 after another 24-hour session in which most of the action happened offshore.

The Australian Dollar opens higher on Wednesday at 0.7935 after a renewed bout of greenback weakness overnight as concerns swept offshore markets that the US Federal Reserve may hose down expectations of an interest rate increase this year in an attempt to lower borrowing costs.

With many beginning to question the sustainability of the recent increase in sentiment surrounding a global economic recovery and commodity prices the Aussie dollar appears to have found some relatively solid topside resistance.

The local market was caught by surprise yesterday following the release of the minutes to this month's Australian Reserve Bank meeting.

Australian Dollar: After gapping lower in early Monday morning trade yesterday the Aussie was unable to “fill the gap” back above 81 cents in Asia trading sideways for the majority of the session to enter early offshore trade around 0.8070.

Australian Dollar: Cool winter winds may be blowing in Sydney but the Australian dollar is on fire at the moment and opens on Friday at 0.8190.

The Australian Dollar opens largely unchanged from this time yesterday at 0.8015. The Aussie received a boost on Wednesday from a 12.7 per cent rise in May consumer sentiment – the largest monthly increase in 22 years.

Australian Dollar: The Australian Dollar stole back some of its recent losses against the Greenback over night, moving back above the 80 cent level for the first time in 3 days.

Australian Dollar: The Australian Dollar opens beneath US79 cents for the first time since May 29 amid further greenback strength overnight. As expected, trading was fairly muted yesterday thanks to the Queen's Birthday public holiday.

The Aussie dollar held firm in local trade yesterday despite a massive and unexpected turnaround in the countries trade balance.

The local market was left in awe of what many have called the miracle economy and the 0.4% increase in economic growth during the first quarter of the year in Australia.

Australian Dollar: As expected the Reserve Bank kept interest rates on hold at 3% yesterday with the major surprise coming in the form of a much lower than expected Current Account Deficit in the first quarter of the year.