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By SHAMEEM MUSA

Australian Dollar drifts lower to a two-week low under 78c


Australian Dollar

AUD / USD

Expected Range

The Australian dollars daily depreciation continued through trade on Tuesday falling back below 0.78 U.S cents. The AUD met ongoing selling pressure as demand for the US dollar increased on the back of reports John Taylor is firming as favourite to take over the Fed Presidency. A known hawk markets expect Taylor could set the Fed upon a faster pace of monetary policy tightening and bolster yield returns on USD. Touching intraday lows at 0.7771 the Aussie found support amid concerns Trump' tax reform bill may still meet headwinds through the senate as key republicans appear unlikely to seek re-election in the midterm primaries. With support still intact at 0.7730 attentions now turn to quarterly inflation prints today as a key marker for short to medium term direction. A soft read would only support the RBA' neutral policy stance and likely compound recent losses while an upbeat print could embolden bulls to push the Aussie back through 0.78 and 0.7850.

Great British Pound

GBP / AUD

Expected Range

1.6800 – 1.6970

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.6840 – 0.6960

By SHAMEEM MUSA

Australian Dollar hanging on to 78c


Australian Dollar

AUD / USD

Expected Range

The Australian dollar edged marginally lower through trade on Monday forced downward by an increasing appetite for the worlds base currency. Having found support last week, the AUD tested 0.79 however a series of lower lows and lower highs since suggests another foray below 0.78 U.S. cents is on the table. Interest rate expectations are driving direction and with the Australian dollars yield advantage expected to disappear before the year is out we could see the currency succumb to further USD strength. With firm support at 0.7730 still in play a soft CPI print Wednesday and an upbeat US GDP read will only highlight the diverging monetary policy expectations and potentially see the Aussie test new lows. Attentions now turn to the race for the Federal Reserve Presidency. Should John Taylor win the appointment later this week the known hawk will likely engender further USD support and heap more bearish pressure on the AUD.

Great British Pound

GBP / AUD

Expected Range

1.6830 – 1.6950

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.6900 – 0.7010

By SHAMEEM MUSA

Aussie Dollar slips against the Greenback heading towards 78c


Australian Dollar

AUD / USD

Expected Range

The Australian dollar edged lower into the close on Friday slipping below 0.7850 as the U.S dollar gained new momentum on the promise of Republican tax reform. Touching intraday lows at 0.7806 the AUD was driven lower by increased expectations the U.S tax reform will pass through both the House and Senate despite widespread condemnation from Democrats. Buoyed, the U.S dollar made its largest daily advance in more than a month and forced the Aussie lower as domestic drivers remained thin. The Australian dollar remains at the mercy of monetary policy expectations and with the RBA vehemently sticking to a neutral policy standing the short-medium term outlook remains bearish. Attentions now turn to Wednesday' CPI print as the weeks big ticket macroeconomic item and while a strong read may put pressure on the RBA it is unlikely to drastically amend the timeline for a rate hike locally and we expect the AUD to meet resistance on moves approaching 0.79/0.7910.

Great British Pound

GBP / AUD

Expected Range

1.6750 – 1.6900

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.6880 – 0.7000

By Brett Ottawa

Aussie rallies on the back of Kiwi election result


Australian Dollar

AUD / USD

Expected Range

The Australian Dollar saw a boost yesterday after the unemployment rate hit a four-year low of 5.5% and an increase in 19,800 Jobs for the month of September. Opening the day at 0.7840, we saw an immediate rally to 0.7870 with a slight drop off following the third quarter Chinese GDP figures, which slowed by 0.1% to 6.8%. The Australian dollar hit a 17<sup>th</sup> month high against the New Zealand Dollar following the decision of NZ First leader Winston Peters to form a coalition government with the NZ Labour Party. Markets saw a 2.2% rally to see the AUD/NZD hit a high of 1.1220 from its open yesterday of 1.0950. The Australian Dollar opens this morning at 78.75 US Cents.

Great British Pound

GBP / AUD

Expected Range

1.6750 – 1.6800

Majors

USD, EUR, JPY

Expected Range

N/A

New Zealand Dollar

NZD / USD

Expected Range

0.7000 – 0.7100

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

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