Aussie Weakens 3 Days Respectively Fueled by Concerns Due to sluggish European Stock Exchange
fxbom.com
03:13 PM
In trading this morning the Australian dollar exchange rate has decreased for three consecutive days against the U.S. dollar (29/12). Australian currency is weakening occurs after the risk of crisis in Europe continues to expand. Market participants began to return reduces the demand for currency yielding and high risk such as the Australian dollar.
The ECB yesterday said that its balance sheet has increased to reach a record high after last week by jor-rod to channel loans to banks in Europe. Market participants focused on the Italian bond sales will be done today. Italy planned to sell 8.5 billion euros (11 billion dollars) government bonds that will mature between the years 2014 to 2022 to come.
On this day observed in the position of the Australian dollar 1.0071 dollars. Aussie has decreased compared to the close of trading this morning at the level of 1.0093 dollars. Today the Australian dollar had dropped to 1.0045 dollars a position which is its lowest since December 20 last.
Fxbom.com Analysts judged that the movement to weaken the Australian dollar still has the potential to occur. Aussie has a negative trend in line with the weakening of the stock exchanges in Asia. It is estimated that the Australian dollar will test the level of support – resistance in the range 1.0025 – 1.0120 dollars.
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