AUD/USD Performance Chart as at 7:00 p.m. Singapore time, 28/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 1.44%

1 Month 5.95%

3 Months 9.69%

6 Months 11.38%

1 Year 19.09%

 

52 WEEK

High 1.0947

Low 0.8067

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.02

Q3 2011 1.02

Q4 2011 1.00

Q1 2011 0.99

 

DAILY DETAIL

The Aussie dollar jumped to a new record high of $1.0947 today, as the Fed’s decision to maintain loose monetary policy encouraged investors to increase their exposure to higher yielding assets. Also supporting the dollar were comments from RBA governor Glenn Stevens, who said the currency’s surge won’t weaken the Australian economy and contain inflation. This suggests the central bank has room for further interest rate increases, perhaps in the near future. ‘What we’re looking at right now is the Fed most likely being the last major central bank to hike’ rates, except the Bank of Japan, said Khoon Goh, head of market economics and strategy at ANZ National Bank. ‘With the US dollar just getting sold off, you are just going to see ongoing gains in commodity prices and commodity currencies,’ including the Aussie, he said. [2] Looking ahead, there are a number of key US economic indicators scheduled for release later today, including jobless claims data and annualised first-quarter GDP figures at 1.30pm (London time). Pending home sales are due at 2pm. Anthony Grech, London

 

Notes: Sources: [1][2] Bloomberg News (27 April 2011). Chart data supplied by Bloomberg.