Forex News

The Australian dollar fell against all of its major counterparts at today’s Forex market opening, as Australia may be left without a majority government for the first time since 1940. The Aussie has immediately entered an uptrend after this negative opening.

Following a rapid growth yesterday, the Australian dollar declines against its major counterparts (except euro) today as the market participants expect the interest rates to be on hold for some time.

The Australian dollar rose today against its New Zealand counterpart as the speculation arose that the government will make changes to the planned mining tax after the Prime Minister Kevin Rudd resigned.

The New Zealand strengthened today as the favorable data from the U.S. added to the signs of the economic recovery, while the New Zealand’s trade surplus may prompt the central bank to increase the interest rates; against the U.S. dollar the kiwi experienced volatility and currently fell.

The New Zealand dollar dropped today against its Australian counterpart on the concerns that the Aussie will be more attractive to the investors, interested in carry trade, because of the higher interest rates in Australia.

The Aussie rose to its mid-August highs against the Japanese yen today as the traders listened to the analysts’ speculations that the central bank has opened a carry trade opportunity with the interest rate hike.

The New Zealand dollar rose for the fourth straight day against its U.S. counterpart and advanced for the second day versus the Australian dollar today, assisted by the signs of the global recession’s easing.

The currencies of Australia and New Zealand advanced against the Japanese yen and the U.S. dollar on the Forex market today as the traders clearly favored risk-ridden high-yielding assets despite the mixed stock trading session results in Asia.

The New Zealand dollar rose to the highest level since early January 2009 today, backed by the support from the continuously growing emerging and developed stock markets.

The Australian dollar reached the new monthly maximum the Japanese yen as the stock markets signaled growth for a third day on improved earnings of the banks.