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Daily Currency Report

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AUDUSD range 0.8951−0.9048

Wed, Nov 4 2009, 09:40 GMT
by John Clarke

ODL Securities


It was a relatively quiet session overnight, as Tokyo returned from their holiday. The USD settled just below one month highs against a basket of currencies. Expect the markets to be treading water until the release of the FED statement later on this evening. The 5 minute chart below shows the trading range of cable this week.

Daily Currency Report


Market News

  • AUDUSD range 0.8951-0.9048.
    Trading at 0.9025/30 area before the release of the retail sales numbers falling to the lows on first reaction. 0.8950 support also 0.8920/0.8900 now. 0.9050/70 area still plenty of resistance but could see a test of the lows with a move to 0.8850 if equities weaken.

  • USDJPY range 90.04-90.43.
    Still range bound resistance at 90.70/91.20 support at 89.50/89.00. It would appear that traders are waiting for Fed comments and NFP this week for more direction.

  • EURUSD range 1.4703-1.4737.
    Again quiet after the move in London/NY. Resistance 1.4740/70 with support at 1.4650/20. As with AUDUSD resistance levels topside seem to be holding and could break lower testing down to 1.4600 which is a key level.

  • On the economic front, watch out for the Oil Inventories at 1500 and the Interest Rate decision later on this evening – scheduled for 1915


Major Economic News

TIMEMARKET DATA
1915FOMC Interest rate decision

*Note all time are GMT.


ODL Securities Limited  | The Northern & Shell Building 10 Lower Thames Street London EC3R 6AD
http://www.odls.com/ | info@odlsecurities.com

Legal disclaimer and risk disclosure

Derivatives are volatile instruments and in certain circumstances it is possible to lose more than your initial investment. Derivatives are not always suitable for everyone and you should consult your financial adviser before dealing.

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