The Australian dollar continued to be strong against the other major currencies in the Asian session on Thursday amid risk appetite, tracking the gains on Wall Street overnight and in the European markets. The rebound in crude oil and gold prices also boosted sentiment.
Meanwhile, investors are bracing for the crucial U.S. Federal Reserve decision later in the day to see whether the U.S. central bank would raise short-term interest rates for the first time in nearly a decade.
While some analysts remain split on whether the Fed will raise rates, a Labor Department report showing tame inflation may have provided further support for the view that the central bank will leave rates at record lows.
A U.S. Labor Department report overnight showing tame inflation may have provided further support for the view that the central bank will leave rates at record lows.
Wednesday, the Australian dollar rose 0.46 percent against the U.S. dollar, 0.60 percent against the yen, 0.56 percent against the euro, 0.06 percent against the Canadian dollar and 0.22 percent against the NZ dollar.
In the Asian trading, the Australian dollar rose to near 4-week highs of 0.7207 against the U.S. dollar and 1.1347 against the NZ dollar, from yesterday’s closing quotes of 0.7196 and 1.1299, respectively. If the aussie extends its uptrend, it is likely to find resistance around 0.73 against the greenback and 1.14 against the kiwi.
Against the yen, the aussie advanced to nearly a 3-week high of 86.95 from yesterday’s closing value of 86.75. On the upside, 90.00 is seen as the next resistance level for the aussie.
The aussie edged up to 1.5667 against the euro and 0.9493 against the Canadian dollar, from yesterday’s closing quotes of 1.5686 and 0.9475, respectively. The aussie may test resistance level around 1.52 against the euro and 0.96 against the loonie.
Looking ahead, Swiss SECO economic forecasts for September is due to be released at 1:45 am ET.
At 2:35 am ET, Bank of Japan Governor Haruhiko Kuroda is expected to speak at the National Securities Industry Convention in Tokyo.
In the European session, European Central Bank’s monthly economic bulletin, U.K. retail sales data for August and Eurozone construction orders for July are set to be announced.
At 3:30 am ET, the Swiss National Bank’s interest rate announcement is due. The central bank is expected to maintain the LIBOR rate at -0.75 percent.
In the New York session, U.S. building permits and housing starts, both for August, U.S. weekly jobless claims for the week ended September 12 and U.S. Federal Reserve Bank of Philadelphia’s manufacturing index for September are slated for release.
At 2:00 pm ET, the Federal Reserve will announce its decision on monetary policy. The Fed is expected to hold rates at 0.25 percent.
Following the announcement, Federal Reserve Chair Janet Yellen will hold the customary post-meeting press conference at 2:30 pm ET.
I am curious to find out what blog system you happen to be working with?
I’m experiencing some minor security problems with my
latest website and I’d like to find something more safe.
Do you have any recommendations?
Quality content is the secret to be a focus for the
visitors to pay a visit the web site, that’s what
this site is providing.
We’re a group of volunteers and opening a new scheme in our community.
Your site offered us with valuable info to work on. You have done an impressive
job and our whole community will be grateful to you.
Attractive setion off content. I just sumbled upon your web site and in accession capital tto assert that I get in fact enjoyed account
your blo posts. Any way I’ll be subschribing to your feeds
and even I achievement you access consistently quickly.
It’s remarkable in favor of me to have a site, which is beneficial designed for my knowledge.
thanks admin
Every weekend i used to pay a visit this website, as i want enjoyment,
for the reason that this this web page conations really fastidious funny information too.
You need to take part in a contest for one of the
most useful sites on the internet. I am going to
recommend this web site!
Hello, always i used to check blog posts here
early in the daylight, for the reason that i love to learn more
and more.
Wow, this article is nice, my younger sister is analyzing these kinds of things, therefore I
am going to convey her.
Fascinating blog! Is your theme custom made or
did you download it from somewhere? A theme like yours with a few simple tweeks would
really make my blog stand out. Please let me know where you got
your theme. Many thanks