Rising US stocks are aiding the USD and tempering the AUD gains, along with option-related selling and AUD/JPY selling into rallies. Strong earnings results from McDonalds, Costco and Yum have seen the DJIA rise 69 pts this morning to 11,921, taking the DJIA to new record highs.
Traders are also shrugging off the US trade deficit, attributing the rise to a strong economy and voicing expectations that the recent fall in oil prices could see the deficit contract in coming months. On the flip side and a positive for AUD, Gold has continued its bounce and is now trading at session highs of $576.00. AUD/USD is at 0.7504/06 and continues to stall under the earlier high of 0.7511.
No comments:
Post a Comment