Daily Forecast - 25/11/2009

24 November 2009 @ 04:26 pm EDT

:: Australian Dollar: The Australian Dollar opens lower today against the greenback at 0.9202. The risk appetite that buoyed the Aussie on Monday night evaporated yesterday after news emerged from China that it's banking regulator issued a stern warning to banks regarding strict adherence to capital requirements or face sanctions. The local unit shed 50 points and hit a low of US92 cents mid-morning on fears the recent lending binge in China could come unstuck and leave banks with an increase in non-performing loans. The sell-off continued when Europe opened taking the currency down to an overnight low of 0.9130. Profit-takers emerged and the Aussie steadily climbed back to US92 cents during the New York session

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