Daily Forecast - 11/3/2010

11 March 2010 @ 05:41 pm EDT

:: Australian Dollar: The Aussie dollar has traded in a half cent range for the majority of the last 24 hours bouncing between 0.9110 and 0.9160 opening this morning near the top at 0.9155. Yesterdays much anticipated Australian employment report disappointed the market somewhat with only 400 jobs created in February against expectations of a result closer to 15k however headline unemployment remained low at 5.3%. The news saw the AUD/USD sell off from 0.9140 to 0.9110 before a steady fight back in late afternoon exchange following upbeat Chinese data with offshore markets eventually taking it back above 0.9150. With no local economic data scheduled for release today the AUD is likely to remain range bound in Asia before the release of key data out of Europe and the U.S this evening. 

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

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