Currency Update: The AUD is lower, at USD 0.9445, after a bout of disappointing data from the euro zone caused a sell-off in most currencies

Bell Potter

Currency Update: The AUD is lower, at USD 0.9445, after a bout of disappointing data from the euro zone caused a sell-off in most currencies. The data that disappointed was the unemployment rate across the Euro Zone that stayed at 12.2% in September, after the August figure was revised up from 12% to 12.2%. Inflation for the Euro Zone fell to a 4 year low of 0.7% in October. The data sparked a sell-off in the EUR, which saw the USD rise against most currencies, and the AUD was caught in the price action. This data has raised speculation the European Central Bank (ECB) will continue with its economic stimulus programs and the next focus is the release of official Chinese manufacturing figures for October, due out today. Today's Forecast Range: USD 0.9425 - 0.9485


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