Currency Update: The AUD has opened lower this morning at USD0.9560 as traders await US data and Federal Reserve outcomes later in the week

Currency Update: The AUD has opened lower this morning at USD0.9560 as traders await US data and Federal Reserve outcomes later in the week. The market is eager know whether or not the Fed will make a change to its bond buying program before years end. On the day the AUD is more than likely to trade within familiar ranges with the lack of any first tier data releases both here in Australia and Asia. The USD traded in a tight range against its major rivals Monday night, unmoved by Industrial Production and pending home sales data. While headline industrial production was stronger than expected, the underlying manufacturing was soft. It was much the same in the UK where retail sales for October reported that growth proved to be much weaker than expected. The GBP reversed its previous session's gains, finishing flat.