The Australian Dollar saw mixed trading during the morning session in London Tuesday as currency markets responded to the latest price action in the bond market and a quarterly inflation report from down under that failed to draw a decisive bid for the Antipodean unit.
The Australian Dollar traded higher against a majority of its developed world rivals Wednesday as markets positioned for the release of the latest set of labour market figures down under, which will be key to avoiding another deterioration of interest rate expectations during the weeks ahead.
The Pound could be staring down the barrel of a double digit decline against the Australian Dollar, according to the latest set of forecasts from Commerzbank, with all of this loss to come before year-end.
Momentum does appear to reside with Sterling from a technical standpoint and we would therefore suggest further advances are likely. Watch employment data out of both Australia and the UK for fundamental triggers.
The Australian Dollar extended its nascent recovery into the final session of the week as risk assets benefited broadly from an easing of fears over a possible conflict in the Middle East, while some strategists are suggesting the Antipodean currency may continue to parry its doubters for while yet.
The Australian Dollar could finally be on the verge of having its own moment in the sun this year, according to strategists at Credit Suisse, now that iron ore prices appear to have bottomed and oil is continuing its climb higher.