Bell FX Currency Outlook: The Australian Dollar traded to .9000 on Friday night as the US non-farm payroll data fell well short of expectations, with 74k new...
Bell FX Currency Outlook: The Australian Dollar traded to .9000 on Friday night as the US non-farm payroll data fell well short of expectations, with 74k new jobs created in December. The AUD shot to .9000 as the USD was weaker across the board as doubts surfaced about the pace of the US Federal Reserve's bond tapering program and whether the reduction of USD10bn in purchases would continue this month. Most analysts believe the US Fed will wait to see if the weaker jobs figures persist over the next month before they would reconsider their path of reductions in bond purchases. With the market going into the announcement generally bearish on the AUD, we believe some of this buying of the AUD was related to stop losses being triggered. Today's Forecast Range USD: 0.8970 - 0.9045
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