PT Equityworld – The drop in the US dollar value of all trades in the forex market late Asian session (30/12),
provided more flexibility for the aussie rally continued for 2 consecutive days. In addition to the weakening US dollar,
commodity currencies have benefited from rising commodity prices the past few days khsususnya price of gold and crude oil prices.
Steady release of economic data on overnight trading also can not lift the dollar,
the data weekly unemployment claims decreased from the previous week period. But a little weighed down by the unfavorable trade balance data of goods in November increased deficit.
Asian markets opened observed after the US dollar tumbled against all of its rivals to reach the lowest position in the last two weeks and then increases again in the lowest position in a week.
PT Equityworld | Aussie Continues rally on the sidelines of the falling value of the dollar
For the movement of US session tonight, there is a minor movers for the US dollar on the release of the ISM Chicago PMI. The data is expected to show a decline indicates alias bad data.
The dollar index, which measures the strength of the US dollar against six major currencies in early Asian trade (30/12) opened lower end of the previous period and was in position 102.60, and is now trading around 102.23. Previous trading closed at 102.59.
Crude oil prices moving strongly despite being depressed by crude oil supply data for the United States reported increases in oil supplies last week exceeded the previous week. Furthermore the price of gold also succeeded long rally responds to the drop in the US dollar.
Australian dollar exchange rate movements of the Asian session (02:15:45 GMT) moved higher against the US dollar, after opening lower at 0.7220 earlier in the Asian session (0000 GMT), the Australian dollar exchange rate is now rolling on the position of 0.7235.
For subsequent trade to the American trading session this evening, Vibiz Research Center analyst estimates AUDUSD pair will continue to rise towards 0.7259-0.7284 range. But if there is a correction going down towards the 0.7195-0.7164 range.
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