Bell Potter

Bell FX: The AUD has fallen USD 0.9075, as declining commodity prices and a rally in the US dollar puts the local currency under pressure. Encouraging economic data from the US helped support the USD. New orders for durable goods in the US fell 2% in October, which met market expectations, while weekly unemployment claims figures fell to a 2-month low. The commodity currencies all suffered at the hands of the stronger USD. In the US, initial jobless claims for the week ended 23 November fell to 316k from 326k. These data suggest that the US labour market has continued to strengthen modestly. The Chicago manufacturing PMI eased in November after a sharp rise in October. This index is generally regarded as having the strongest correlation with the ISM manufacturing survey.Today's Forecast Range USD: 0.9045 - 0.9095


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