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By Matt Richardson

All eyes on U.S CPI and Retail Sales as markers for rate hike


Australian Dollar

AUD / USD

Expected Range

0.7730 – 0.7860

The Australian Dollar is stronger today when valued against its US counterpart reaching an overnight high of 0.7835. The dollar' strength was on the back of positive local data yesterday as the Melbourne Institute´s consumer inflation expectations for October rose to 4.3% which was well above the previous months figure of 3.8%. Australian home loans approvals also rose in August which was up 1.0% doubling the market's expectations 0.5%. The macroeconomic calendar has little to offer today with no scheduled data releases. The AUD/USD pair is currently trading at 0.7820. We now expect support to hold on moves approaching 0.7780 while any upward push will likely meet resistance around 0.7840.

Great British Pound

GBP / AUD

Expected Range

1.6750 – 1.7050

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7060 – 0.7190

By Matt Richardson

Inflation concerns sprinkled amidst FOMC minutes dampen USD upside


Australian Dollar

AUD / USD

Expected Range

0.7730 – 0.7830

Despite a positive reading from Westpac' Consumer Sentiment index, the Australian Dollar met resistance against the US Dollar once again around the 78c level yesterday. The pair touched a high of 0.7809 following the release however these gains were short lived and saw the pair pullback under. The survey rose by 3.6% in October which was positive but also comes on the back of an already solid improvement the month before. According to Westpac, the improvement was largely driven by optimism towards the economy in the year ahead and consistent coverage of the continuing improvement in the global economy, in particular the US. Another key point to note is job confidence at a household level has improved to its best level since 2011. Locally, today sees the release of second tier data with housing finances and inflation expectations. The AUD/USD is currently changing hands at 0.7785.

Great British Pound

GBP / AUD

Expected Range

1.6820 – 1.7080

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.6970 – 0.7130

By Matt Richardson

Euro rallies as expectations for tapering in QE program escalate


Australian Dollar

AUD / USD

Expected Range

The Australian Dollar inched higher intraday on Tuesday against the Greenback following a strong report on the monthly NAB Business Confidence survey. The report indicated that Australian business conditions have climbed above its long-term average in September and reversed last months losses. The AUD/USD before the release was buying 0.7746 and jumped up 40 pips to 0.7786. Overnight the pair touched what is seen as resistance of 0.7797 but has since settled back down. Today sees the release of Westpac Consumer Sentiment for October but is unlikely to have an impact on the Aussie

Great British Pound

GBP / AUD

Expected Range

1.6830 – 1.7080

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.6970 – 0.7130

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

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