AUD/USD Performance Chart as at 3:30 a.m. Singapore time, 20/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 0.75%

1 Month 5.58%

3 Months 5.06%

6 Months 8.56%

1 Year 13.76%

 

52 WEEK

High 1.0584

Low 0.8067

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 85.00

Q3 2011 86.00

Q4 2011 88.00

Q1 2011 90.00

 

DAILY DETAIL

The Australian dollar was down 0.3% percent at $1.0470 after having shed about a cent on Monday to a low of $1.0454. [3] But the Aussie was not far off a 29-year high of $1.0585 set earlier this month. The aussie weakened for a second day versus the greenback this morning as a slide in Asian stocks and debt concerns in the Europe and US hurt demand for higher-yielding assets. It closed the local session at 104.64-67 US cents, from 105.1 US cents yesterday. Right now, the US and Europe aren't looking good fiscally so risk aversion may cause selling of high-yielding currencies. Benchmark interest rates are 4.75% cent in Australia, compared with zero in the US, attracting investors to the aussie's higher-yielding assets. The risk in such trades is that currency market moves will erase profits. The move by S&P yesterday provided an opportunity for investors to look afresh at Australian government bonds, with markets concluding that a more robust position for the Australian economy would boost interest for the country’s bonds. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Source: [1] Bloomberg (19 April 2011), [2] Bloomberg UK (19 April 2011), [3] Sydney Morning Herald (19 April 2011), [4] Wall Street Journal (19 April 2011). Chart data supplied by Bloomberg.