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By Brett Ottawa

Aussie dollar expected to remain steady ahead of jobs report


Australian Dollar

AUD / USD

Expected Range

The Australian Dollar remained range bound over the past 24 hours, finding support at 78.20 US Cents. The MI Leading Index, which measures nine economic indicators saw a slight increase to 0.1%. Little movement was seen for the Aussie though following the result, nor for the rest of the domestic session. Iron Ore futures took a bashing overnight falling by 3-4% overnight, with the AUD/USD following suit after dropping from intraday highs of 0.7858. Investors look to the release of Chinese GDP and Industrial Production figures released at 1pm along with September jobs this morning whereby it is expected another 15,000 jobs were added to the Australian economy. We open today at 0.7845.

Great British Pound

GBP / AUD

Expected Range

1.6750 – 1.6850

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7100 – 0.7200

By Brett Ottawa

The Australian dollar remains supported at 0.78


Australian Dollar

AUD / USD

Expected Range

The Australian Dollar traded in a narrow band yesterday, seeing an overnight high of 0.7860. The minutes from the latest Reserve Bank policy meeting showed optimism for the local economy, with the continuation of a neutral stance on monetary policy. The market saw little movement following the release, trading sideways into the European open. The Aussie saw an eventual low during the North American session of 0.7818 after strong support for the greenback. President Trump met with hawkish Fed candidate John Taylor who could potentially replace Janet Yellen in four months. The Australian Dollar opens this morning at 0.7845 ahead of this month' MI Leading Index release.

Great British Pound

GBP / AUD

Expected Range

1.6750 – 1.6850

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7120 – 0.7220

By Brett Ottawa

Aussie steady ahead of RBA minutes


Australian Dollar

AUD / USD

Expected Range

The Australian Dollar fell forty basis points from yesterday' high of 0.7890, running out of steam in its rally up to the 79 cent handle. Opening initially at 0.7880, the Aussie was steady throughout the domestic trading session as Chinese Inflation numbers came in at expectations of 1.6% for the month of September. The eventual decline was seen in overnight trading with a small movement higher for the greenback with the AUD/USD dropping to an eventual low of 0.7842 at the close. The dollar is expected to see further movement this morning with the release of October' Monetary Policy Meeting Minutes whereby the RBA kept benchmark interest rates on hold at 1.5%. The Australian Dollar is currently swapping hands at the rate of 0.7850 against its American counterpart this morning.

Great British Pound

GBP / AUD

Expected Range

1.6825 – 1.6925

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7120 – 0.7220

By Brett Ottawa

The Australian dollar is rallying


Australian Dollar

AUD / USD

Expected Range

0.7840 – 0.7930

The Australian Dollar closed the week higher after a lower than expected inflation reading out of the United States in Friday evening. Opening the day at 0.7820 against the greenback, the Aussie traded in a tight twenty pip range during the domestic session. The majority of price action occurred during the release of the US inflation report which showed a 0.1% rise in core inflation versus 0.2% expected. The result sent the Australian dollar to a three week high of 0.7896 and opens slightly lower this morning at 78.80 US Cents. Further direction will be seen from the release of the latest Monetary policy minutes due for release on Tuesday.

Great British Pound

GBP / AUD

Expected Range

1.6800 – 1.6900

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7120 – 0.7220

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

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