Daily Forecast Feb 10

09 February 2010 @ 04:54 pm EDT

:: Australian Dollar: The Aussie dollar entered offshore exchange edging closer to the 87 cent handle with the market keeping a keen eye on developments in Europe. After trading in a relatively narrow range between 0.8735 and 0.8685 for the majority of the London day volatility increased following some Euro supportive rhetoric and better than expected U.S wholesale inventory data, sparking a jump back to within a whisker of the 88 cent level. This morning sees the AUD/USD exchanging near the highs at 0.8780 with the Westpac Consumer Confidence survey for February scheduled for release.

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

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