CurrencyBuySell
AUD-USD0.91350.9140
AUD-JPY82.230082.3300
AUD-EUR0.67180.6723
AUD-GBP0.60900.6095
AUD-CHF0.98280.9838
AUD-HKD7.10037.1055
AUD-SGD1.28081.2817
AUD-NZD1.30181.3031
AUD-CAD0.93910.9399
AUD-ZAR6.75726.7969
CurrencyBuySell
NZD-USD0.70070.7017
NZD-JPY63.090063.1900
NZD-EUR0.51530.5158
NZD-GBP0.46740.4679
NZD-CHF0.75410.7547
NZD-HKD5.45275.4614
NZD-SGD0.98320.9847
NZD-AUD0.76740.7681
NZD-CAD0.72060.7221
NZD-ZAR5.18715.2278
Morning Commentary
Rates at Market Open (6.30am)
All rates are indicative only and are subject to change without notice
10 Second Summary
The FX rollercoaster continues to provide the late night excitement. The USD’s premier charge was countered by the strengthening Down Under currencies. The AUD and NZD are likely to continue with their victory lap this morning, though the climb above this base camp will have to wait for further sets of positive data.
Australian Dollar
Following Newton’s 3rd law of motion, the AUD produced an equally strong rebound through 91USc, after the initial sell-off during the overnight session. A stronger business confidence has now raised the hopes of an Easter interest rate hike. While the Aussie will continue to bask in its glory during the Asian session, further topside attempts are likely to remain exclusive to the overnight session.
United States Dollar
The initial sprint by the Dollar as China renewed its commitment to US Treasury bonds quickly ran out of steam with China being wary of boosting it's gold reserves. Consumer confidence falling to its lowest in 1 year, from 46.8 to 45.4, cuts short the Greenback’s honeymoon period. However with EU baking a risk aversion pie, the hope of a USD revival remains alive.
Euro
The Dark Ages continues to loom over the Euro with Fitch now mulling to lower Portugal’s AA credit rating. With additional EU nations on the verge of entering the European debt crisis Premier league, the Single currency’s renaissance is a long way into the future. With the UK showing further cracks in the economy the Kiwi & AUD/GBP cross rate rockets up ward for importers.
Japanese Yen
The Yen was left waiting for the US cavalry which unfortunately could not make it to the Japanese shores. The lone Samurai struggled against the stronger Pacific pair. Expect the Yen to remain a hunted currency until risk aversion comes to its rescue.
New Zealand Dollar
The Kiwi knock’s on through 70USc, but not before bouncing off 0.6960USc. Despite a marginalized USD the Kiwi remains trapped within a narrow range, with investors preferring to jump into the arena after RBNZ OCR decision at 9am tomorrow. Till then any NZD moves are likely to be directed by offshore data.
Leading the way
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