By Dan Bell
The AUD/USD opens at 1.0270 this morning.
The AUD rallied to 1.0285 overnight after the European Central Bank gave no clear indication of further monetary easing.
The EUR/USD, which has been sold lower in the days before the ECB meeting, rallied more than 1% in response.
Solid demand at a Spanish debt auction also boosted euro-zone sentiment and the EUR/USD.
The Bank of England, at their rate setting meeting, did not announce further stimulatory measures as they were expected today. The GBP/USD rebounded off 2 ½ years consequently.
US weekly employment data was encouraging ahead of the closely monitored and widely watched US non-farm payroll figures.
The US Dow Jones index edged up to make another new all-time high.
Gold price fell slightly to USD$1576 an ounce. Copper and base metal prices rebounded strongly across the board.
World equity markets were marginally higher across the board with the exception of the Shanghai index which fell 1.2%.
The AUD opens at 1.0270 USD, 0.7835 EUR, 0.6840 GBP, 97.50 JPY, & 1.2400 NZD
There is no domestic data scheduled today.
Tonight brings the all important US non-farm payrolls employment data. The US Federal Reserve (their central bank) has stated they will be maintaining very stimulatory conditions until the unemployment rate is under 6.5%.
Chinese inflation, new loans, industrial production, retails sales, amongst others will be released throughout Saturday.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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