Forex Forecast 03/11/2009

02 November 2009 @ 06:25 pm EDT

:: Australian Dollar: The Australian Dollar opens at 0.9022 after a volatile session on Monday. With local equities opening in negative territory the Aussie fell in quick fashion down to an intraday low of US89 cents. However, stronger-than-expected local economic data in the form of third quarter house prices pushed the unit back above US90 cents. The data is one more piece of evidence underpinning the case for further hikes in official interest rates by the Reserve Bank of Australia. Markets have priced in a 25 basis point increase after today's meeting. Any such announcement will take place at 2:30pm AEDT.

For more information, go to www.ozforex.com.au

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