Daily FNArena News - Currencies

Market analysts at FXCM suggest the market is paying close attention to any hits or directions from the RBA on interest rates.

Market analysts at FXCM suggest while further strength in the Australian dollar can be expected over the next week or so, 10750 against the US currency is a resistance level.

ATW’s Jerry Simmons places a few FX crosses under the loupe, suggesting potential scenarios for many crosses that currently are in a twilight zone. In addition, gold and crude oil are being discussed too.

Market analysts at FXCM suggest the technical picture is for further gains in the Australian dollar against the greenback, with strength into the US108-109c range expected over the next week.

Market analysts at FXCM suggest the british pound is poised to decline as the chances for an interest rate increase by the Bank of England fade.

Market analysts at FXCM note the US dollar had its worst weekly performance in a month last week and suggest investors continue to watch equity markets and talk on the end of QE2 for directions.

Commonwealth Bank analysts fear ECB resistance to Greek restructuring will mean more euro weakness ahead of any resolution. Australian stocks are indirectly exposed.

Market analysts at FXCM continue to see the US dollar index moving towards 9800, while suggesting the Australian dollar is now trading within a descending triangle formation.

Market analysts at FXCM suggests the US Dollar Index remains in an uptrend, with the next target at 9800 as risk aversion flows back into the currency market.

Market analysts at FXCM report despite a return of risk appetite the US dollar index is showing modest gains.