Forex News

The Australian currency rose its highest value in last 25 years against the U.S. dollar as the credit markets continued to lose on the mortgage lending crisis in the United States.

The Australian dollar declined today on Forex during the Asian trading session after the report on home-loans showed a massive decline in the sector and the consumer sentiment index dropped to its lowest level since 1992.

The U.S. dollar reached its lowest value against the European currency in more than two months today as the traders are waiting ADP report on the June jobs dynamics and expect it to show a first decline in four months.

The Australian dollar reached a record high value since February 1983 against its counterpart from the United States today as the USD slumped and the commodity currencies grew on optimism.

The Australian dollar fell to its one month low against the U.S. currency as the jobs dropped in May for the first time since October 2006 and the traders became more confident that the central bank won’t be raising interest rate more.

The Australian dollar benefited today from the better than expected first quarter GDP growth as the Reserve Bank of Australia may start considering interest rate hikes again.

The Australian currency dropped today on Forex as the government bonds rose after the report on the April retail sales showed a decline of this important indicator.

The U.S. dollar rose today to highest against the euro since May 20 as the Federal Reserve Bank of Dallas President Richard Fisher said that the interest rate increase is possible on elevated inflation fears.

The U.S. dollar declined today against other major currencies as the International Monetary Fund stated that there are still serious risks to the global financial market connected with the U.S. real estate crisis.

The Australian dollar stopped growing on the Forex market today after the Reserve Bank of Australia mentioned economical growth moderation in its monetary policy statement.