australian dollar outlook 25 august 2011
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8/4/2019 Australian Dollar Outlook 25 August 2011
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FX DAILY REPORT THURSDAY 25TH AUGUST 2011
BELL POTTER SECURITIES LIMITED GPO BOX 4718MELBOURNE VIC 3001AUSTRALIA
TOLL FREE 1800 003 [email protected]
ABN 25 006 390 772AFS LICENCE NO.243480
Bell FX Currency Outlook
The AUD has opened little changed from yesterday asmarkets remain wary ahead of this Fridays speech from Ben
Bernanke in Jackson Hole.
Australia: The AUD appears to be lacking any clear directioncurrently. Overnight US Durable Goods data was largely positive,which would normally have driven the AUD higher, but offsettingthis is investor nervousness ahead of this Fridays Kansas CityFeds annual economic conference. On Friday we also haveReserve Bank Governor Glenn Stevens appearing before theHouse of Representatives Standing Committee on Economics. Itsunlikely that Governor Stevens will say anything that will have too
much of an effect on interest rate expectations or, as a result, theAUD. Expect the AUD to trade in a relatively tight range today withno local data of any real significance due for release.
Majors: US durable goods orders in July rose by 4%, much betterthan the 2.4% increase markets had been expecting. The USDreceived a slight boost from the data, but as discussed above,investors are holding off on taking big positions ahead of Fridaysspeech from Bernanke. Opinions are mixed as to what messageBernanke will convey in his speech, with some market watchersexpecting him to announce another round of quantitative easingwhile others expect that he may only outline what the US Federal
Reserves potential policy options are for addressing the strugglingAmerican economy. In Europe overnight, Greek government twoyear yields rose to a euro-era record of 44%. Clearly the sovereigndebt crisis in Europe is still a long way from being contained, withrumours the ECB was busy buying Italian and Spanish governmentbonds.
Economic Calendar
25 AUG AU CBA HIA House Affordability Q2
US Initial Jobless Claims Aug
JN Foreign & Japan Buying Bonds AUG
UK Nationwide Consumer Confidence JUL
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seeking expert financial advice. Ranges in this publication are indicative ranges over the past 24 hours. Last is around 9.00am Sydney.
Please speak with Bell Foreign Exchange if you require l atest pricing and ranges.
Kimberly Limbert 08 8224 2725 [email protected] Bill Giffen 02 9255 7473 [email protected] Fisher 08 8224 2771 [email protected] Geoff Louw 02 8243 3502 [email protected]
Nick White 08 8224 2770 [email protected] Bronson Livingston 02 8243 3503 [email protected]
Scott Fleming 03 9235 1912 [email protected] Tracey Warren 02 9255 7294 [email protected]
Stephen Blampied 03 9235 1960 [email protected] Scott Hill 02 8243 3504 [email protected]
Australian Dollar / US Dollar
0.60
0.70
0.80
0.90
1.00
1.10
1.20
Oct-05 Oct-06 Oct-07 Oct-08 Oct-09 Oct-10 Oct-11
Todays Forecast Range
USD 1.0450 1.0550
Currencies Last High Low
AUD / USD 1.0460 1.0535 1.0444
USD / JPY 77.02 77.08 76.47
EUR / USD 1.4407 1.4491 1.4376
GBP / USD 1.6364 1.6540 1.6357
NZD / USD 0.8274 0.8369 0.8262
AUD Crosses Last High Low
AUD / JPY 80.56 80.81 80.06
AUD / EUR 0.7260 0.7290 0.7251
AUD / GBP 0.6388 0.6402 0.6343
AUD / NZD 1.2629 1.2675 1.2601AUD / CAD 1.0335 1.0409 1.0331
Australian Rates Last Previous
Official Cash 4.79
3 Month Bill 4.84 4.74
10 Year Bond 4.36 4.40
US Rates Last Previous
Fed Funds 0.25
3 Month Libor 0.314 0.312
10 Year Bond 2.30 2.15
Commodities Last - / + (%)
Gold (US$ / oz) 1759.40 -3.8
Oil (WTI) US$/bbl) 85.08 -0.4
CRB Index 331.59 -0.85
Equities Last - / + (%)
ASX 200 4168 -0.1
Dow Jones 11321 +1.3
FTSE 5206 +1.5
Hang Seng 19467 -2.1
Nikkei 8640 -1.1