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- Nov, 20 USD Graphic Rewind
- Nov, 20 Opening Comment
- Nov, 20 Overnight Interest Rate Update 11.19.09
- Nov, 19 Japanese Yen Benefits on Risk Aversion, New Zealand Dollar Falters
- Nov, 22
- Nov, 19 Overnight Interest Rate Update 11.19.09
- Nov, 18 Swiss Franc Strengthens on U.S. Dollar Weakness, British Pound Falters
- Nov, 18 Canadian Consumer Prices Expand for the First Time in 5 Months
- Nov, 18 Opening Comment
- Nov, 18 Overnight Interst Rate Update 11.18.09
- Nov, 17 British Pound Remains Bid, Canadian Dollar Underperforms
- Nov, 17 U.K. Inflation Tops Forecast
- Nov, 17 Overnight Interest Rate Update 11.17.09
- Nov, 17 USD Graphic Rewind
- Nov, 16 Canadian Dollar Outperforms, Japanese Yen Lags Behind
- Nov, 16 Euro-Zone Consumer Prices Weaken For Fifth Month in October
- Nov, 16 Overnight Interest Rate Update 11.16.09
- Nov, 13 US Confidence Falls for Second Month
- Nov, 13 Overnight Interest Rate Update 11.13.09
- Nov, 13 German GDP Posts 2nd Quarterly Advance; Rises to 0.7%
The Australian dollar advanced to a high of 0.9112 against the greenback on Wednesday and the AUD/USD may continue to approach parity as the higher-yielding currency benefits from the rise in risk appetite, while the Japanese Yen remains the worst performing currency on the day, with the exchange rate jumping to a high of 91.04 during the European trade.
The Australian dollar advanced to a high of 0.9112 against the greenback on Wednesday and the AUD/USD may continue to approach parity as the higher-yielding currency benefits from the rise in risk appetite. However, as the 30-minute RSI approaches oversold territory, we may see the exchange rate hold steady ahead of the FOMC rate decision later today after moving 96% of its daily average true range, and the lack of momentum to cross back above the 20-Day SMA (0.9136) may lead the pair to trend sideways over the remainder of the week as the Reserve Bank of Australia is scheduled to present its quarterly monetary policy statement on Friday at 0:30 GMT. Nevertheless, as the rally in the AUD/USD remains well-support by the 50-Day SMA (0.8831), we may see the pair retrace the decline from the previous week and test the yearly high at 0.9330 in November as market participants speculate the RBA to tighten policy further in December.
The USD/JPY advanced for the third day as investors raised their appetite risk, and the Japanese Yen is the worst performing currency against the greenback on the day as the exchange rate jumped to a high of 91.04 during the European trade. However, after moving 97% of the daily ATR, the overnight rally looks to have lost steam as the 30-minute RSI falls back from overbought territory, and the pair may fill-in the gap from the 200-SMA at 90.51 as it fails to push back above the 10-Day SMA at 91.08. At the same time, as the FOMC is scheduled to release its policy statement as 19:15 GMT, the USD/JPY is likely to face increased volatility following the rate decision as investors weigh the outlook for future policy. Nevertheless, as the dollar-yen continues to mark higher highs and higher lows in November, we may see the pair retrace the sell-off from the previous month and test the October high at 92.34.
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