AUD/USD Performance Chart as at 3:30 a.m. Singapore time, 29/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 1.53%

1 Month 6.03%

3 Months 9.78%

6 Months 11.47%

1 Year 19.19%

 

52 WEEK

High 1.0947

Low 0.8067

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.02

Q3 2011 1.02

Q4 2011 1.01

Q1 2011 1.00

 

DAILY DETAIL

The higher-yielding Australian dollar scaled a fresh 29-year high of $1.0948 against its US counterpart early this morning, and was last up 0.2% percent at $1.0890 at noon in New York. The local currency has rocketed more than 2 US cents since noon yesterday because of renewed worries about the US dollar - which has sunk to its lowest in three years against a basket of currencies. The US Federal Reserve gave no indication yesterday that it would raise its interest rate anytime soon. Following the five-day Easter and Anzac Day weekend, the aussie resumed its recent rally after headline inflation figures for the March quarter came in at their highest since the June quarter of 2006. [3] The fundamental fact is that the aussie is incredibly strong at the moment, and the US dollar is weak across the board. There is no indication that the US is going to raise rates any time soon, so we are effectively in uncharted territory. The rally upwards in the course of the last few sessions has been extraordinary. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Sources: [1] & [2] Reuters (27 April 2011), [3] Sydney Morning Herald (27 April 2011), [4] Wall Street Journal (27 April 2011). Chart data supplied by Bloomberg.