AUD/USD Performance Chart as at 1:00 p.m. Singapore time, 8/06/11

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HISTORICAL DETAILS 

% Change

1 Wk 0.40%

1 Month -1.40%

3 Months 6.47%

6 Months 8.78%

1 Year 31.49%

 

52 WEEK

High 1.1012

Low 0.8083

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.07

Q3 2011 1.06

Q4 2011 1.03

Q1 2011 1.02

 

DAILY DETAIL

Having fallen to a low of 1.0672 after the RBA left the cash rate unchanged, the Aussie enjoyed a bounce during the US session, moving back into the 1.0730 range as US equity markets enjoyed some modest advances. These earlier equity gains were eroded after Ben Bernanke did not hint at further accommodative measures for the US economy while speaking at a banking conference in Atlanta, resulting in the AUD pulling back slightly to close the US session at 1.0721. Upon re-opening for Asian trade, the AUD was sold off sharply to the current level of 1.0656, as the ASX 200 inexplicably plunged more than 1%. With an immediate interest rate hike a minimum of a month away, the AUD’s near-term fortunes are likely to be dictated to by commodity prices and investor sentiment. As we have seen today, a sharp slide in equity markets is likely to be met by a sell-off in the AUD. Cameron Peacock, Australia.