Australian Dollar Outlook - 25 February 2014
By Christine Gaylican | February 25, 2014 2:24 PM EST
Bell FX Currency Outlook: The Australian Dollar is firmer today, rallying overnight as the appetite for riskier assets returned to the market.
Stacks of euro, Swiss franc, and U.S. dollar banknotes are displayed in a bank in Bern, Switzerland in this file photo.
Australia: After trading around USD0.8950 for much of yesterday's local session, the AUD broke back above USD0.9000 overnight as risk appetite took over once again. With no news locally yesterday, the AUD drifted lower towards USD0.8930 but by the European session was slowly gaining some momentum back towards USD0.8990. Higher Gold prices and a rise in US equities overnight saw the AUD outperform against most of the major currencies, hitting a high of USD0.9049. With no major data releases due on Tuesday we expect the AUD to hold onto its overnight gains but its likely to trade within a narrow range.
Majors: Global equity markets made solid gains overnight with US indices up 1.1%, while European markets averaged a 0.6% gain. Spot gold rose 1.1% to USD1,338.4 per ounce, closing in on a four month high. European Data was also positive with German business confidence improving by more than expected in February. Most major currencies outperformed the USD, the EUR regained some lost ground rising from a low of 1.3709 to around 1.3740. Tonight, US Consumer Confidence takes the spotlight, it's expected to ease in February to an index of 80.0 from 80.7 in January. While in Europe, German final Q4 GDP figures are expected to confirm growth at 0.4%.
- 25 FEB US Consumer Confidence Index
- US House Price Index MoM
- GE GDP QoQ/YoY
For the latest pricing, ranges visit www.bellpotter.com.au
To contact the editor, e-mail:
Most Popular Slideshows
- Taylor Swift Named Forbes' Second Highest Paid Country Musician [PHOTOS]
- Forever Lost: Indescribable Anguish for Malaysia Airlines MH17 Families, Remains of Some Victims May Never Be Found (PHOTOS)
- Global Aviation Accidents: UN to Form Safety Task Force, Gov'ts Should Share Intelligence Info to Avert Future Incidents on Flying Over Warzones (PHOTOS)
- PageSix: Beyonce & Jay Z Union is Not About Love, All About Business & the Brand
Join the Conversation
- Iran Leader Asks Muslims to Supply Arms to Palestine, Calls Israel ‘Rapacious Wolf’
- Australia Asked National Media to Suppress Multi-National Corruption Case: WikiLeaks
- El Niño Update: 2014 Threat Easing, ‘Unlikely to be a Strong Event’ – Australia BoM
- “Women should not laugh in public” - Turkish Deputy PM says
- Opinion Poll in New Zealand Shows National Party Far Ahead in Popular Support
- Samsung Galaxy S5 Alpha Leaks Online: Release Date, Five Features to Wait for New Smart Phone
- Freshly Leaked Apple iPad Air 2 Cases Confirm Touch ID Sensor; Release Date, Limited Specs and Price Listed
- Moto X Android 4.4.4 KitKat Update Guide: Schedule and How to Install
- Photos of Motorola Moto X+1 Prototype and Specs Leak Online, Release Date, Four Fresh Features Revealed
- Sony Xperia Z3: Release Date, Five Features to Expect from New Android Smart Phone
- Top 4 Reasons Why iPhone 6 Will Hit Big Soon After its Sept 2014 Release Date
- Top Surprising Features Of iOS 8