http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/17/ More of the same overnight with another round of weak data in the US as jobless claims rose 30,000 to 360,000 which is a six week high. The Philly Fed was also very weak dropping from 1.3 in April to -5.4 in May with the market having expected a rise to 2. Housing starts were also weaker than expected but so was inflation which to a certain extent mitigates the economic weakness because it takes any pressure off the Fed to swiftly begin taking back it's stimulus efforts as inflationFri, 17 May 2013 03:16:14 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/17/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/14/You can tell that the worm has clearly turned for the Aussie dollar because for the 4th or 5th day in a row it is one of the lead stories on the Wall Street Journals FX page. Today's headline says the budget knocked the AUD lower and while we don't agree that it was the budget that knocked the Aussie dollar below 0.99 overnight. Having said that though there was nothing in it that was or is going to support the Aussie. Indeed I'd argue that the ridiculously hopeful nominal forecasts for aTue, 14 May 2013 22:09:16 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/14/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/13/There seem to be three trends emerging in markets at the moment.The first is the reemergence of US dollar strength, the second is the upward pressure on yields in the US and Japan for almost the opposite reasons and third is the growing line up of notable names who want to dis the Aussie dollar.  This morning the NAB reports that John Taylor of FX Concepts, which is the worlds biggest FX manager, has said that the Aussie dollar is a bubble. This is the third notable name after Soros andMon, 13 May 2013 22:25:55 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/13/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/12/On Saturday I was fairly comfortable that I had this week mapped out but the article in the Wall Street Journal by Jon Hilsenrath which is sourced inside the Fed and makes claims that they are contemplating the end to the current program of bond buying has given me reason to pause. On the one hand this week we have the Barrons cover talking up stocks saying this bull market has room to run and we had some bullish analysis from Bank of America equity guys also released over the weekendSun, 12 May 2013 22:15:22 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/12/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/09/ It was all about FX overnight with the US dollar stronger knocking the Yen through 100, the Aussie below its range low and hitting the Euro back toward the bottom of the range. Dr Copper was under a little pressure and gold and Nymex Crude were both lower also. The absolute catalyst is hard to know but it was clear that this was a big move, probably a portfolio shift, that fed on itself because everything started to move at the same time as even the most casual perusal of the charts willThu, 09 May 2013 22:09:30 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/09/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/08/Two trends are emerging at the moment - the first is that the bears are lining up against the Aussie while the second is that the bears are becoming bulls for the US stock market - however reluctantly. Last night was a quiet night in the US but the Dow and S&P both managed to make new all time highs with the Dow up 49 points on 0.32%to 15,105 while the S&P was up another 7 to 1,633 for a gain of 0.43%. The Nasdaq was 0.48% higher. Of note in the US was a report IWed, 08 May 2013 22:13:31 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/08/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/07/If you believe the reporters at MarketWatch then the Dow pushed to a new all-time high above 15,000 and the S&P closed at another new all-time high because the RBA cut rates yesterday. At first blush that seems a ludicrous notion but when you think about it for a second it actually makes a lot of sense. The rationale I think would run that if the miracle economy down under is in need of a rate cut with more to come then the likelihood of the ECB joining theTue, 07 May 2013 22:28:16 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/07/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/06/Markets were fairly quiet overnight relative to the fireworks and bullishness of Friday. no doubt the UK holiday had something to do with this but equally the lack of data in the US and the subdued nature of the Chinese, German and European Services PMI's that were released yesterday while they didn't exactly knock the bulls for 6 certainly took a little wind form their sales.  On Stock markets with the UK out the DAX and CAC fell 0.13% and 0.15% respectively with Spanish and ItalianMon, 06 May 2013 22:19:20 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/06/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/05/"I'm out there Gerry and I'm loving it" So said Kramer to Gerry Sienfeld when he decided to go "Commando" for the first time and I get the sense that there will be a few bears who might turn bull after the price action we have seen in the US Stock market over the past few weeks. After bouncing off the important technical level of 1520 theS&P traded to a new all-time high of 1618 before closing at a new"closing high" of 1614 on Friday night.  As Chris wrote in his weekly Sun, 05 May 2013 21:52:17 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/05/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/02/Words are important aren't they? In everyday life and in markets words can help or they can harm, they build up or they can drag down. Last night a few words from ECB boss Mario Draghi were enough to knock the Euro from its perch above 1.32 after the ECB rate cut and see it under pressure once again.  The words that Draghi used were that the ECB stands ready for negative rates if they are necessary and while they shook the very foundations of the Euro rally they strangely hadThu, 02 May 2013 22:17:54 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/02/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/01/So rhetoric works sometimes it seems and my hosing recovered somewhat overnight with the big fall in the Aussie and Dr Copper going the way of my position. It was actually bad trading really and the type of trading that only a big balance sheet, small positions or a big fund can really justify. But I deviated from my usual trading style because I needed to show someone that you could make money trading this way but it is not ideal.  Anyway the fall in the Aussie overnight and the hugeWed, 01 May 2013 22:31:35 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/05/01/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/30/I've been hosed this week as I have deviated from my usual short term technical intra and day trading style in favour of a more rhetorical style I used to use as a fund manager or bank trader. I need to be up front about that lest what I write below be misconstrued as trying to defend my piece on the Aussie souring a bit even though it has rallied 100 pip from the open on Monday.  But when I look at the price action of the Aussie and the Kiwi over the past day or so and when I look at theTue, 30 Apr 2013 22:22:01 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/30/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/29/Some days I am in tune with market and others I am not.Yesterday was one of those days where I was not in sync because I simply failed to understand the impact that the swearing in of the Italian government would have on sentiment in Europe. I both underestimated the positive reaction and figured that given the nature of the coalition - that is who its constituents were -  this was likely to be an anti-austerity regime which was duly confirmed overnight when the new PM said,  ItalyMon, 29 Apr 2013 22:20:17 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/29/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/28/Euro traders in early Asia are at it again with the swearing in of the new Italian Government led by a bloke most Italian's don't even know,Enrico Letta, being sworn in over the weekend. The team he has put together after being tapped on the shoulder last week by the aging Italian President is a grand coalition of his centre left party and Silvio Berlusconi's centre right party. Certainly strange bedfellows but then again politics is about power and the exercising of power which you can'tSun, 28 Apr 2013 21:58:01 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/28/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/25/It's all about Europe overnight with the British GDP data printing better than expected at +0.3% for Q1 and 0.6% YoY. In Europe the truly appalling unemployment numbers for France - where unemployed hit a new record of 3.25 million - and Spain where the unemployment rate hit 27% or 6.2 million knocked the Euro off its perch near 1.31 and increased expectations that the ECB will have to cut a little. Across the Atlantic the better than forecast jobless claims in the US proved positiveThu, 25 Apr 2013 22:15:05 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/25/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/23/Whatever drugs the European stock markets are on I want some. The idea that stocks should rise in the order of 3% because the data in Europe is so appalling that the ECB will need to cut from the already ludicrous level of 1% is pure fantasy. But rise they did and cut rates the ECB will have to.  The release of the manufacturing PMI for China yesterday which was a big miss at 50.5 versus the 51.4 expected was a window into what to expect from Europe and particularly German PMI'sTue, 23 Apr 2013 22:32:05 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/23/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/22/It is a potentially huge day for markets today as we have the monthly release of the big manufacturing PMI numbers. Kicking off this morning is the HSBC manufacturing PMI and then tonight we get the Markit PMI's for France, Germany, the Eurozone and the US. These data are very important for a number of reasons not least of which is they will either confirm of deny the growing feeling in markets that the mid year slowdown is upon us. Certainly for the Aussie dollar the HSBC Chinese PMI isMon, 22 Apr 2013 21:58:37 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/22/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/21/Well Well Well - what a weird mob the G20 has become. The distance between reality and what exists behind the cloistered walls of their cosy little meetings and networking functions and what is going on in the real world seems to grow with almost the same magnitude of the distance between Brussels and the rest of Europe. But then why should we be surprised when this is the lesson of the GFC and the crisis management - it is all about the privileged few preserving their slice of theSun, 21 Apr 2013 22:14:11 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/21/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/18/The outlook for growth is taking what is becoming the usual middle 3rd swoon at the moment with data from the US overnight reinforcing the weaker than expected non-farm payrolls from last month. The Philly Fed survey fell to 1.3 from 2 and against the 3 the market expected but was was troubling was that the employment sub component fairly tanked dropping from 2.7 to -6.8 in April. Clearly the outlook has darkened and clearly the the small 4000 rise in jobless claims saw an outsized response inThu, 18 Apr 2013 22:18:06 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/18/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/17/Markets are nothing if not emotional erratic fools some times and as proof of the adage that volatility begets volatility the Aussie and Euro completely reversed the previous days recovery, stocks were under intense pressure - Apple more so than anyone - and the Copper price was sold down heavily on reported concerns about global growth.  It is of course that time of the year when the pre and post Christmas hope gives way to the mid year reality that things may just not pan out asWed, 17 Apr 2013 22:15:39 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/17/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/16/02/Some days the data matters and others it doesn't. When markets are volatile it is difficult to know which day it will be but it seems that last night was one of those ones when US stocks investors at least grabbed the better than expected data with both hands and ran with it. FX traders on the other hand as we will outline below simply went with the technicals proving once again that fundamentals are but one part of the story and sometimes not even the dominant narrative when itTue, 16 Apr 2013 22:02:45 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/16/02/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/15/Any notions that things were not going to go according to the April/May script that we have experienced since 2010 were put to bed over the past 24 hours as markets reversed course sharply and Gold and the Aussie dollar in particular got absolutely pollaxed. Gold's fall continued in early Asian trade yesterday and it was already under acute pressure when the weaker than expected Chinese data was released. The pressure on gold had been also pressuring Aussie and it came under sustainedMon, 15 Apr 2013 22:27:20 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/15/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/14/Much happened Friday night but clearly the weaker than expected retail sales in the US, which fell 0.4% raw and -0.1% ex autos and gas, hurt economic sentiment in the US and was aided in undermining perceptions about the recovery by the sharp and unexpected fall in the Michigan Consumer sentiment number which printed 72.3 against 78.5 expected and 78.6 last. The US recovery was never going to be linear but this recent run of data has been a bit weaker than many expected and the downsideSun, 14 Apr 2013 22:19:09 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/14/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/11/The risk appetite of global investors for equities remains unsated at the moment with more rallies on stocks in Europe and the US as the Central Bank goosing continues with the steady flow of liquidity and seeming absence of risk.  News overnight that PC sales have plummeted should come as no surprise in a world that is increasingly becoming tablet and cloud dominated. Lets face it who needs a terabyte of data on their desk or laptop when companiesThu, 11 Apr 2013 22:13:21 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/11/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/10/Is it the perfect world for stocks and the Aussie dollar bulls? It's looking like it might be - last night the Fed minutes had to be released early because it seems they were leaked and even though they showed that some members of the committee were getting a little excited about the employment situation and positing an early withdrawal of some stimulus the market shrugged it off and rallied on.  Certainly early earnings seasons results are providing some solid underpinning that for allWed, 10 Apr 2013 21:32:59 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/10/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/09/It was all about the US dollar last night, oh and a bit of central bank largesse thrown in to help stock markets as well. Whether you look at the Euro, GBP or Aussie you see a USD move. When you look at Silver, Gold, Copper and Oil - there too you see a US dollar move. Although based on the Twitter punch up we witnessed between Nouriel Roubini and James Rickards yesterday it is not necessarily a settled point that the USD is the other side of these trades. Strangely this is a point I had toTue, 09 Apr 2013 22:39:46 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/09/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/08/The Big 3 central banks really are trying to have their way with markets at the moment with the drug of choice to gain compliance free and easy money. Last week's BoJ announcement that it would double the size of its balance sheet over the next couple of years continues to reverberate around Global FX markets with the USDJPY rate hitting a high of 99.41 this morning from the high 70's back when this run started late last year and up from 92ish just last week. Whether or not this is going toMon, 08 Apr 2013 22:21:43 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/08/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/04/No mucking around at the Bank of Japan yesterday with the vote to double the size of the balance sheet and try to hit 2% inflation by March 2015. The fact that the vote was unanimous behind the new BoJ Governor Kuroda is also instructive that after 2 decades of moribund growth the Japanese are growing tired of corporate and economic decay.  Given the Japanese debt position and aging population it would be trite of me to say "be careful what you wish for" but its worthThu, 04 Apr 2013 20:45:24 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/04/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/03/Interesting day in Europe and North America with stocks lower on the back of weaker than expected US data but gold and crude also lower even as North Korea grows more bellicose. We have know idea what is running through the mind of those in power in Pyongyang but we saw on Reuters this morning that, North Korea “formally informs” U.S. that it has “ratified” strike, possibly involving “diversified nuclear strike”: KCNA Clearly price action is telling us that the market thinks this is justWed, 03 Apr 2013 21:14:05 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/03/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/02/A night of US dollar strength with USDJPY reversing yesterday's weakness, Euro and GBP unable to sustain their up moves  and Gold coming under intense pressure. The reason is hard to fathom given that stocks, especially in Europe were so strong. Perhaps it was news of a little bit of backsliding over the Cyprus timeline but I don't buy that as that horse has bolted. Perhaps it was the fact that the Euro area PMI's were all weak and weakening raising the chances of a ECB cut.  I don'tTue, 02 Apr 2013 21:21:06 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/02/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/01/The markets were less focused on Cyprus now and more focused on some weaker than expected data out of the US overnight with stocks a little lower and the US dollar a little weaker. Interestingly however the Tankan survey in Japan yesterday didn't stop the yen from strengthening in what looks like both a technical move and some fundamental position squaring in the lead up to Kuroda's first meeting as BoJ Governor later this week. It is a decisive meeting for the USDJPY bulls because it is theMon, 01 Apr 2013 21:24:25 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/04/01/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/27/The Euro and the Aussie came under some pressure overnight as the former continues to be buffeted not just by Cyprus but also the Italian political impasse and weak European data while the latter continues to do well on the crosses but just couldn't hold the uptrend under the weight of negativity that is nowhere near acute but just enough to stop the buying for the moment.  Looking first at Europe there was no denying the mess it continues to be in with the Italian bond auctionWed, 27 Mar 2013 21:16:08 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/27/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/26/The Australian Dollar is the clear winner from what is going on in Cyprus at the moment and the fact that it is rallying still while Gold has failed to keep moving higher suggests that money is flowing away from European assets and towards Australian assets as would be natural if you have a bit of spare cash you want to get out of Europe and away from the Euro Group and their new template for bank resolution.  Last nights move in the Aussie saw a high of 1.0497 just shy of out target ofTue, 26 Mar 2013 21:46:21 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/26/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/25/We had grave concerns about the Dutch Finance Minister Jeroen Dijsselbloem and his ability to led the Euro Group and command the gravitas and experience necessary for that position. Overnight we saw that he is still wearing his L-Plates as he torpedoed the markets rally after the Cyrpus deal was announced.  In an interview with Reuters and the Financial Times Dijsselbloem signalled that the Cyprus deal to bail in depositors was a template for other nations when heMon, 25 Mar 2013 20:59:37 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/25/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/24/Will they won't they. What will they, what won't they. Cyprus Cyprus it's all about Cyprus.  The Cypriot issue continues to dominate the minds of the market and the pundits as the rumours fly on what the new deal to haircut deposits might be. Reuters reported over the weekend that it was 4% for the "guaranteed deposits below €100,00 and a decent old 20% haircut for those above this threshold. But this morning it is still unclear what the "actual" deal,Sun, 24 Mar 2013 20:45:02 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/24/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/21/So the emotional roller coaster continues and the markets were worried about Cyprus again overnight so that is now four trading days where we have been worried, not worried on and off. This of course suggests that Cyprus might be a convenient ex poste excuse rather than an ex ante cause but hey who am I to argue with the punditry and the way things are reported.  Rather I think that what Cyprus has done is give a nice European focussed segueThu, 21 Mar 2013 21:07:59 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/21/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/19/02/Emotions are great in markets one day something matters, the next it doesn't then it does again. Such has been the case this week with Cyprus. Asia was really worried Monday but the Northern hemisphere less so and then overnight with the Cypriot Parliament voting down the proposed "rescue" package markets have decided that Cyprus really might be Europe's Amazonian butterfly. Our colleague DE  from Macro Business has written another good piece  this morning which I urge you to have aTue, 19 Mar 2013 21:02:41 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/19/02/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/18/You won't be surprised to know that Russian President Vladimir Putin had something to say about the Cypriot deposit grab by the EU Troika over the weekend. A spokesman for him called if "unjust, unprofessional and dangerous". We echo those thoughts but without the Russian leaders obvious self interest but overnight markets shrugged off the initial Asian disquiet to recover from the lows as it appears that the idea that Cyprus is the pimple on the pimple at the edge of Europe gained traction.Mon, 18 Mar 2013 20:54:31 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/18/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/17/The Cyprus Bailin of depositors and the butterfly effect that this might have on Banks across the Euro zone in almost every nation except maybe Finland and Germany has knocked the Euro and Aussie substantially lower this morning. We looked at the impact directly earlier this  morning . Key for the day however is that the Euro closed the week at 1.3073 yet this morning in early Asian trade it sits at 1.2930. The Aussie is not off quite so much  having closed the week at 1.0413Sun, 17 Mar 2013 21:12:38 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/17/http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/14/The S&P 500 closed just 2 points shy of its all-time high but after market news from the banks that the Fed is allowing them to buy back shares and increase dividends is likely to get it there at some point tonight. There is a bunch of options expiring tonight however so it could be a very interesting night and as the Soothsayer warned Caesar "beware the Ides of March".  Over the past 24 hours however the key driver has been jobs data. Unbelievable jobs data in Australia,Thu, 14 Mar 2013 21:15:08 GMThttp://www.fxstreet.com/fundamental/market-view/info@lighthousesecurities.com.au (GlobalFX)http://www.fxstreet.com/fundamental/market-view/australian-dollar-a-look-at-main-drivers/2013/03/14/