Bell FX: The AUD traded below .9400 after US non-farm payrolls for October expanded by 204k versus the expected increase of 120k
Bell FX: The AUD traded below .9400 after US non-farm payrolls for October expanded by 204k versus the expected increase of 120k. With an expansion of 212k in private payrolls and a revision upward of 60k jobs from the previous two months, the market expected there was a greater chance of the US Fed reducing its USD85bn security purchase program earlier than thought before the announcement. Although most analysts believe the US Fed will wait until early 2014 before a reduction occurs the chance of the taper beginning in December is gaining currency. With this possibility the USD strengthened across the board and the major US equity indices were all higher as well. Today's Forecast Range: USD: 0.9350 - 0.9425
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.