Forex: AUD/USD rises above 0.9000 as gold climbs to 1,080, record high

Tue, Nov 3 2009, 16:10 GMT
http://www.fxstreet.com

FXstreet.com (Córdoba) – The Australian Dollar is back above 0.9000 helped by gold prices that jumped from $1,055 to $1,080 an ounce to a fresh record high. AUD/USD rose to 0.9025 and continues to recover after falling earlier to 0.8915, posting a 3-week low.

Valeria Bednarik, collaborator at FXstreet.com affirms: “If something is halting dollar from running higher, is gold: the commodity is quoting around $ 1068/oz, close to historical highs and pushing higher, while U.S. stocks remain in negative territory after U.S. factory orders come under expectations, despite improving to 0.9% from previous month reading of -0.8%.”

AUD/USD

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