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HISTORICAL DETAILS
% Change
1 Wk 0.17%
1 Month 1.90%
3 Months 2.1%
6 Months 8.55%
1 Year 21.38%
52 WEEK
High 1.1081
Low 0.8771
BLOOMBERG MEDIAN FORECASTS
Q2 2011 1.07
Q3 2011 1.06
Q4 2011 1.05
Q1 2012 1.04
DAILY DETAIL
Overnight, the AUD pulled back below the 1.10 level after US markets failed to rally on news of a deal to lift the debt ceiling and the ISM manufacturing report came in much weaker than expected. The session essentially proved to be a reality check for US markets, that despite lifting the debt ceiling and averting a default, the US economy has serious structural challenges with no easy solutions. The realisation of this saw risk currencies come under selling pressure. Having ended yesterday's session around the 1.1055 level, the AUD drifted to an overnight low of 1.0922, after the weak ISM manufacturing data, before recovering along with US equity markets to close at 1.0971. Upon recommencing for Asian trade, the AUD opened slightly firmer on news that the House of Representatives had officially passed the debt ceiling extension bill, with the Senate to vote on it tomorrow. Ahead of the RBA's rates decision, the AUD was trading just shy of 1.0980, but fell back below the 1.0950 level when rates were kept on hold for at least another month. Ben Potter, Australia
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