Daily FNArena News - Currencies

FXCM sees a breakdown in AUD/CAD as the technical picture is supported by the market expecting cuts to interest rates by the Reserve Bank of Australia.

Forex.com’s Kathlee Brookes has observed divergence between euro and AUD.

ANZ remains bearish on the US dollar, seeing scope for not only the euro but for the Australian and New Zealand dollars to gain in coming months.

Market analysts at FXCM see further upside for AUD/USD with the focus on US107.30c and US107.85c shorter-term.

Market analysts at FXCM see further downside for the Australian dollar against the greenback, with weakness potentially extending towards US95c.

Market analysts at FXCM suggest with the euro at its August high a breakout against the US dollar is favoured.

Market analysts at FXCM suggest the current congestion in the US dollar market will prove to be temporary, with only a catalyst needed for a renewed dollar trend.

While the US dollar has opened stronger today on reports of a US debt ceiling agreement, CBA doesn’t see any relief rally as sustained and so suggests selling the greenback into strength.

Commonwealth Bank sees a number of reasons why the Australian dollar can hit fresh highs against the US dollar.

CIBC World Markets expects the euro, yen and Australian dollars will all end the year weaker against the greenback.