Daily Forecast - 24/11/2009

23 November 2009 @ 04:47 pm EDT

:: Australian Dollar: The Aussie dollar began the week on somewhat of a negative note with early Asian sellers pushing it down from the open of 0.9145 to a low near 91 cents. Support held however as local equity markets opened strongly and New Motor Vehicle Sales for the month of October increased by 3.7%. The AUD entered offshore exchange testing the 92 cent level finally consolidating gains above this level following an increase in risk appetite thanks mainly to upbeat European and U.S economic data. After topping out near 0.9275 the AUD/USD opens this morning slightly lower at 0.9250 ahead of tomorrow's speech by RBA deputy Governor Battellino at the National Housing Conference in Melbourne.

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