The Market in Brief:
Market Events Due:
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AUD/USD: As forecast yesterday, any further push higher was held in check with a recovering US Dollar, commodity prices falling in tandem with equities, as the market squared up ahead of today’s US Thanksgiving holiday and on geo-political tensions. The US holiday should mean that price action remains stable, although we may see a short sharp spike around 11.30am Sydney with the release of t CAPEX numbers.
AUD/NZD: Remains in the 1 cent range that has been seen since Monday. This morning’s NZ Trade Balance numbers are the weeks only focus so could force a break of the range should we see a surprising release. Technically the overall uptrend remains in place and we appear set for highs seen in August 3 cents above.
AUD/GBP: Has corrected lower from the recent highs, so congratulations to those that took our suggestion to pick up Pounds yesterday. We should hold around here with the US market closed and as we wait for GDP figures from London tomorrow evening.
AUD/EUR: The Euro continues to weaken as the market further prices in the stimulatory measures as the continents economy falters. We do not wish to push any political view, however this video is proving a hit with a growing number of British people https://www.youtube.com/embed/R5lXYw1l8l0?rel=0&autoplay=1 and it would have been interesting to hear Merkel and Holland’s reply, however the speech was never reported in the European press. Back to the currencies and with no EU data due until next week the trend should continue on its way.
Corporate & HNW Client Manager