A$ takes a hit on global growth concerns

FX Commentary – 22nd March, 2012 Global growth concerns continued to resonate across markets overnight providing a solid platform for the safe haven currencies to continue their north-bound trajectory. Chinese growth concerns saw the Australian dollar take a leg-down in the ensuing period of yesterdays uninspiring Chinese PMI data and the momentum continued as the Read More

A$ succumbs to Chinese growth concerns

FX Commentary – 21st March, 2012 Following from yesterday’s domestic trade, much of the focus remained on China overnight as concerns of a slow-down weighed on commodities and risk assets. The US dollar once again became the currency of least resistance with solid gains against commodity counterparts the Aussie, Kiwi and to a lesser degree Read More

Aussie dollar rides on Apple buyback news

FX Commentary – 20th March, 2012 With Greece at least off the table for the near-term and European confidence slowly emerging, currency markets were left to ride the coattails of equity markets overnight. European indices provide little in the way of solid leads however the news of Apple’s share buyback plans helped buoy US equities Read More

The week that was…

FX Commentary – 19th March, 2012 After a solid week across global equities, markets finished mixed on Friday with little in the way of conviction to build on gains seen throughout the week. In economic news, U.S consumer prices recorded annual growth of 2.9 percent in February unchanged from January’s reading. Industrial production failed to Read More

Australian dollar treading water above 1.05USD

FX Commentary – 16th March, 2012 The Australia dollar was able to rebound from the lows it hit yesterday this time, climbing back above the 1.05 USD mark and peaking 50 pips higher than that before retracing back to 1.0528 at the end of the US session.  A solid night across global stocks helped drive Read More

Aussie dollar continues to struggle

FX Commentary – 15th March, 2012 USD dollar strength was the primary theme once against overnight, but true to recent form it wasn’t the typical risk-off scenario which led to a stronger greenback. The Dollar gained as expectations of a third round of quantitative easing dissipated and US economic growth outlook continues to build. Helping Read More

Fed inspires US dollar strength

FX Commentary – 14th March, 2012 A succession of positive events kept market participants in good spirits overnight with global equity markets recording solid gains. The German ZEW series survey outpaced expectations with the economic sentiment index rising to 22.3 from a previous 5.4. Analysts had anticipated a moderate rise to a level of 10. Read More

Solid NFP’s inspire US dollar rally, but will it sway the Fed?

FX Commentary – 13th March, 2012 With little in the way of major market moving themes, U.S equities managed to squeeze out mild gains overnight ahead of Tuesday’s much anticipated FOMC policy meeting. Following on from Friday, the U.S dollar has maintained mild north-bound trajectory against commodity currencies with the Aussie dollar falling to 7-week Read More

A$ holds its ground; Chinese CPI in focus

FX Commentary – 9th March, 2012 There were no surprises which event dominated currency trade activity overnight with the Greek private bondholder’s agreement on a swap deal taking focus, without the deal Greece will not receive another bailout.  Reports a minimum participation of 75% had been reached allowed markets to keep the status quo. Shares Read More

A$ regains composure after post-GDP slide; Local jobs in focus

FX Commentary – 8th March, 2012 After Tuesday’s slide, risk assets staged a recovery overnight with solid jobs numbers in the U.S providing the inspiration for market participants to re-enter the market ahead of Friday’s non-farm payroll release.  A gauge of private sector jobs by payroll company ADP employment services showed hiring rose by 216,000 Read More

AUD struggles for second straight night

FX Commentary – 7th March, 2012 The Australian dollar has followed risk assets lower overnight with broad losses seen across major counterparts. Yesterday saw the local unit break support around the 106.5 US cent region in the ensuing period of the RBA rates decision and the downside momentum continued overnight adhering to a general risk-off Read More

A$ dollar weakens as China adjust growth target

FX Commentary – 6th March, 2012 Risk currencies came under pressure overnight as Chinese Premier Wen Jiabao announced a cut to China’s growth rate target of 7.5% for 2012 at the annual National People’s Congress.  China has set its Growth target of 8% since 2005 yet in the last two years it has decreasingly outperformed Read More

A$ hanging on to 1.08 US cents

FX Commentary – 2nd March, 2012 The Australian dollar was able to claw back the losses it suffered after yesterday’s first day of Ben Bernanke’s testifying at the House Financial Services Committee.  A solid night across global indices helped drive risk assets up, although a climbing oil price did increase the USD limiting the bullish Read More

Bernanke fails to inspire; A$ pairs gains.

FX Commentary – 1st March, 2012  As widely anticipated, a key directive for global markets early in European trade was the European Central Bank’s 3-year Long-term refinancing operation (LTRO) which saw 529.53 billion-euro’s swallowed up by the fragile European banking system. In comparison to the previous operation, 800 European banks participated in the latest ECB Read More