Powered By

Breaking News

AUD surge on growth data

Publish Date06/03/2013 06:09:57 AM

Last Update06/03/2013 08:41:06 AM

FX movements were rather calm with the kick-start of the Asian session Wednesday ahead of heavy data due to the end of the week. The AUD was the focus in the session after better-than-expected growth data supported the bullish rebound.

European currencies are still trading within a tight range ahead of Thursday’s key policy decisions from the BoE and the ECB. On the other end, the dollar is trending higher with the start of the session with focus on Friday’s Jobs Report. The sentiment was rather bolstered after the DJIA yesterday peaked to a new historic closing, settling above 14286.37.

Euro recorded its highest against dollar at 1.3068 extending the gains into the third session; EUR/JPY traded in a narrow range around 121.70. GBP/USD pair traded near 1.5134, while GBP/JPY pair slightly fell to 140.87.

USD/JPY pair continues its downward trend, where the pair recorded low of 92.98 to trade recently near 93.18.

The major mover during the session was the Australian dollar; Aussie found support from better-than-expected GDP figures uplifted by the improved Chinese economic outlook.

The Australian economy expanded an annualized 3.1% in the fourth quarter last year.

AUD/USD set the intraday high at 1.0301 off earlier low 1.0258. Stability above 1.0225 is positive and will extend bullishness toward 1.0300-55 followed by 1.0415 areas. 

Comments

Member Account Required
You must be registered as a member of the forums and logged into your account to post messages. If you do not have a member account, please Sign In or Register.
Markets
United States
Europe
Asia Pacific
Calendars
Economic Calendar
Holiday Calendar
ECB Calendar
Feds Calendar
BoE Calendar
Boj Calendar
News
Top News
FX Updates
Market News
Stocks
Commodities
Global Highlights
Political News
Around the World
Analysis
Opinions
Studies
At A Glance & Video Commentaries
Market Pulse
Community
Forum
Chat
Blogs
Press Releases
icn.com
About Us
Advertising
Contact Us
Privacy Policy
Terms of Services

Risk Disclaimer : All information on this page is subject to change. The use of this website constitutes acceptance of our Privacy Policy and Terms of Service. Please read our Privacy Policy, Risk Disclaimer, Terms of Services and all legal disclaimers. Please note that Forex trading (OTC Trading) involves substantial risk of loss, and may not be suitable for everyone.


Opinions expressed at ICN.com are those of the individual authors and do not necessarily represent the opinion of ICN.com or its management, shareholders, affiliates and subsidiaries. ICN.com has not verified the accuracy of any claim or statement made by any independent writer and is reserved as their own and ICN.com is not accountable for their input. Any opinions, news, research, analysis, prices or other information contained on this website, by ICN.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. ICN.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. The data contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market prices, meaning prices are indicative and not appropriate for trading purposes. ICN.com does not bear any responsibility for any trading losses you might incur as a result of using this data.


©2012 ICN.COM. ALL RIGHTS RESERVED