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By Matt Richardson

AUD losses extended as key technical supports loom closer


Australian Dollar

AUD / USD

Expected Range

The Australian Dollar is weaker today when valued against its US counterpart falling overnight to 0.7747. The Aussie remains near the 2-month low it reached last Friday at 0.7731. A quiet session yesterday with a limited trading range between 0.7745 and 0.7765. The macroeconomic calendar has little to offer today with the only release of the NAB Business Confidence at 11.30am AEDT. The AUD/USD pair is currently trading at 0.7753. We now expect support to hold on moves approaching 0.7730 while any upward push will likely meet resistance around 0.7790.

Great British Pound

GBP / AUD

Expected Range

1.6825 – 1.7085

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.6985 – 0.7135

By MATT RICHARDSON

North Korean Tensions weigh on otherwise buoyant Greenback


Australian Dollar

AUD / USD

Expected Range

The Australian Dollar opens this morning at 0.7776, unable to keep up the pace with a stronger Greenback. The local unit felt the pressure for most of last week as weakness in local Australian data dragged the pair lower. Building approvals slowed as well as the AIG manufacturing and services sectors. Retail Sales also reported a fall and with the RBA concerned over the outlook for household spending the future on a near interest rate rise has lowered. When valued against the worlds reserve currency the Aussie touched a three-month low of 0.7733 and a high of 0.7798. Aiding Greenback strength was Friday' U.S jobs report for the month of September, the unemployment rate fell and the average hourly earnings rate rose driving the expectations of a Fed rate hike. The AUD/USD is now facing resistance-turned-support at around 0.7700. A break through this trend line could bring the price to the next support level at 0.7535. Resistance is sitting at 0.7800.

Great British Pound

GBP / AUD

Expected Range

1.6650 – 1.7080

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.6980 – 0.7130

By JOEL HOLMES

Australian Dollar breaches 78 U.S. cents


Australian Dollar

AUD / USD

Expected Range

The Australian dollar moved lower through trade on Thursday, forced below 0.78 U.S cents following softer than anticipated retail sales growth. Consumers tightened their purse strings through August marking a second consecutive monthly depreciation in consumer led spending. The soft read dampens hawkish investors calls for the RBA to increase interest rates and supports the Central Bank' decision Tuesday to maintain a neutral policy stance throughout the remainder of 2017. Having touched intraday highs at 0.7866 the AUD fell sharply as markets looked to compare the paths of monetary policy. With the U.S Federal Reserve expected to raise rates in December the USD has begun to claw back some of July' losses, limiting AUD upside in the short term and opening the door for further downside with support forming at 0.7730. Attentions now turn to key wage growth and non-farm payroll prints this evening as the primary drivers into the weekly close.

Great British Pound

GBP / AUD

Expected Range

1.6700 – 1.6950

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7080 – 0.7160

By JOEL HOLMES

Australian Dollar hits weekly high – Focus on U.S Economic Docket


Australian Dollar

AUD / USD

Expected Range

0.7800 – 0.7900

The Australian dollar edged upward through trade on Wednesday pushing back through 0.7830 and testing intraday highs at 0.7875. With little domestic data on hand to drive direction the AUD found support in wider USD weakness as investors reacted to a proposed short list of candidates to replace Janet Yellen as Fed and FOMC Chair. Suggestions Jerome Powell is a frontrunner in the race to the central banks top job encouraged a USD sell off. A known dove, it is feared Powell may interrupt the Fed' existing monetary policy plan and waylay expected rate hikes. With attentions turning to Friday' highly anticipated non-farm payroll print and wage growth reports investors seem content managing positions through Thursday with local direction driven by retail sales and trade balance prints. We anticipate support on moves through 0.78 and approaching 0.7730 with resistance capping gains upward of 0.7890 as investors look to sell into AUD rallies.

Great British Pound

GBP / AUD

Expected Range

1.6700 – 1.7000

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7100 – 0.7200

By MATT RICHARDSON

Aussie tests new lows as USD threatens to break outside recent bear trend


Australian Dollar

AUD / USD

Expected Range

0.7730 – 0.7860

The Australian dollar tested new 3 month lows through trade on Tuesday breaking through support at 0.78 and touching intraday lows at 0.7784. The AUD came under increased selling pressure following the RBA' decision to leave rates on hold at 1.5%. While the decision was largely priced in the accompanying commentary offered little to excite investors noting the rising AUD would likely cause a slowdown in wider economic growth and restrain inflationary pressures. The comments dampened expectations that recent upticks in Business conditions and an improving labour market may prompt the RBA to consider a rate hike sooner. The break low found support and failed to push through the 100 day moving average offering investors buying opportunities and saw the AUD stage a brief relief rally pushing back through 0.78 and 0.7833. As attentions turn to a raft of U.S macroeconomic data sets for direction through the back of the week we are watching move approaching 0.7730 as a key marker of wider sentiment.

Great British Pound

GBP / AUD

Expected Range

1.6770 – 1.7030

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7130 – 0.7250

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