A$ holds above USD parity; RBA in focus

FX Commentary – 14th May, 2012 A succession of negative themes continued to weigh on risk assets on Friday with a global push for safety providing upside for the Japanese Yen and US dollar. Greece’s political woes remained a primary stumbling block with key political parities still failing to form a coalition government while Spain’s Read More

AUD pares post-jobs data gains; Chinese data in focus

FX Commentary – 11th May, 2012 After recording considerable gains in the ensuing period of yesterday’s local jobs data, the Aussie dollar has remained under pressure overnight with early strength tailing off in the latter half of U.S trade. The local unit rose to highs of 101.43 US cents before broad based US dollar strength Read More

A$ slides as Euro-Zone fears escalate; Local unemployment/Chinese trade numbers in focus

FX Commentary – 10th May, 2012 Global markets continued to fall under the weight of Euro-Zone concerns overnight with both Greece and Spain in the firing line. After a period of relative calm, concerns of further deterioration of the Spanish banking system crept back into the spotlight with debt yields spiking above the 6 percent Read More

Risk currencies lower on European political turmoil

FX Commentary – 9th May, 2012 Risk currencies continued to grind lower overnight under the weight of ongoing political turmoil in Greece. With the New Democracy Party’s Antonis Samaras failure to form a coalition government, the mandate now falls to the left-wing Syriza party who are staunchly opposed to the austerity measures agreed in exchange Read More

Risk currencies higher; Euro concerns moderate gains

FX Commentary – 8th May, 2012 After starting the week in a decidedly vulnerable position, the Australian dollar found mild support overnight after earlier yesterday falling to fresh 2012 lows of 101.09 US cents. Better than expected local retail sales data provided a small inflection point with relative calm from the Euro-zone and moderate support Read More

A$ takes a hit as US Jobs/EU elections force safety bid

FX Commentary – 7th May, 2012 European markets remained focused on elections in France and Greece with general political uncertainty promoting downside across risk assets on Friday. We’ve seen a continuance of this theme this morning with Euro currently testing $US1.30-figure in early trade as the news of Sarkozy’s defeat against Socialist candidate Francois Hollande.  Read More

A$ succumbs to selling pressure on cautious positioning ahead of NFP’s

FX Commentary – 4th May, 2012 The Australian dollar remained under pressure overnight coinciding with weakness from commodity and equity markets. The local unit fell to near 1-month lows of 102.38 US cents but has now stabilized around current levels of 102.6 US cents. Metals and energy markets remained under considerable pressure which promoted natural Read More

U.S jobs in focus as ADP data dissapoints;  A$ holds its ground

FX Commentary – 3rd May, 2012 After spending a period below 103 US cents overnight, the Aussie dollar saw moderate gains through the latter part of U.S trade as equity markets regained composure after a disappointing start to the session. Benchmark indices finished lower on the day with concerns over the state of U.S employment Read More

Aussie dollar stabilises post RBA; markets supported on stronger U.S manufacturing

FX Commentary – 2nd May, 2012 A generally positive market demeanour – for the most part – failed to assist the Australian dollar to recoup yesterday’s losses with price action ranging between 103 and 103.5 US cents overnight. The local unit took at hit in the ensuing period of yesterday’s local rates decision with price Read More

A$ under mild pressure ahead of Chinese PMI/RBA rate decision

FX Commentary – 1st May, 2012 European debt fears remained a primary focus overnight with Spain in the firing line after Standard & Poor’s downgraded 16 Spanish banks following a downgrade of Spanish debt by the ratings agency on Friday. As widely anticipated, official growth data overnight confirmed Spain is now in recession with the Read More