Aussie Dollar - AUD/USD Daily Candle Chart 27th JUly 2009

Aussie Dollar - AUD/USD Daily Candle Chart 27th JUly 2009

After a relatively quiet session on Monday, the FTSE CAC and DAX have picked up the bullish baton and rallied strongly this morning. If it continues into the close, this will extend the winning run on the FTSE to a record equalling 11 sessions as risk appetite continue to show no sign of waning. Asian markets set the tone overnight with the Nikkei closing up more than 1.5%. With no top tier European economic data due this morning, markets are likely to hold these gains until US traders come on line around Midday. At 14.00 GMT we have US new home sales which is today’s only economic announcement with an expected maximum impact.

Fixed Odds Binary Bet Today

As we have often seen accompanying the recent stock market rally, traders are shunning the dollar and yen in early trading, favouring other assets such as the euro, pound and in particular the Aussie dollar, which is up 0.55% against the US dollar in early trading this morning. The Aussie dollar is benefitting from higher commodity prices and the country’s attractive rate of interest. Australian interest rates are 3%, comparing favourably with 0.1% in Japan and near zero in the US. The Australian dollar is now within reach of the 0.8264 level which is the highest level recorded so far in 2009. The best way of playing this might be a one touch trade which means you win if the level is touched at any time within the time frame you specify.

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