Bell FX: Overnight the AUD has held onto recent gains above USD0.9000 in quiet trade

Bell Potter


Bell FX: Overnight the AUD has held onto recent gains above USD0.9000 in quiet trade. Saturday's disappointing US non-farm payrolls have seen the AUD rally more than one US cent against a weaker USD. The very low figure had left investors more cautious about US growth, however most analysts view the outcome as a one-off event. US equities suffered their biggest decline in months as investors digested Friday's weak jobs data and awaited further guidance from earnings reports this week. The Dow tumbled 179 points to 16258. The USD desperately held onto some gains against the EUR and GBP but lost ground against JPY, NZD and AUD. Ahead offshore we UK inflation being released tonight, this is expected to remain steady at 2.1%yoy. The market is hoping for some clarification from the Fed tonight with a few Federal Reserve speakers due to speak. Today's Forecast Range USD: 0.9010 - 0.9085

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Bell Potter

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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