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Daily Currency Report

3

0

AUDUSD range 0.9092−0.9139

Fri, Nov 6 2009, 10:06 GMT
by John Clarke

ODL Securities


With US payrolls released later on in the trading session, the Asian markets were relatively quiet overnight.
Non farms, plus the G20 this weekend, meant Asian traders stayed on the sidelines. RBA increasing their growth forecasts from 0.5% to 1.75% and saying rates will rise steadily. Equities also higher with Nikkei + 0.8%, Shanghai +0.6% and Sydney + 1.7%. Markets could stay in tight ranges into the data today.

The chart below shows the EURUSD performance over the past 12 months.

EURUSD


Market News

  • AUDUSD range 0.9092-0.9139.
    Even with RBA comments AUDUSD hasn’t really motored but rather a steady rise from sub 0.9100. Resistance topside at 0.9150/0.9180/0.9200. AUDJPY also bid with positive stocks helped and AUDUSD will find support 0.9085/0.9050.

  • USDJPY range 90.57/90.86.
    Still stuck in its range. Helped by higher Cross/JPY but very quiet. Support 90.30/50 resistance 91.00/91.20.

  • EURUSD range 1.4854-1.4881.
    As with other pairs seems everybody waiting for US data before we break one way or another. Topside resistance at 1.4900/45/65 with 1.4840 first support


Major Economic News

TIMEMARKET DATA
1330Non Farm Payroll figures

*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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