Aussie testing 0.72 handle ahead of FOMC

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Thursday, Sep 17 2015

There were no major data releases from Australia this morning with Aussie testing 0.72 handle. National Australia Bank senior currency strategist Emma Lawson told AAP a rally in commodity prices and global stocks helped support the Australian dollar. Manufacturing is becoming a key beneficiary of low interest rates and a weaker Australian dollar, a new survey suggests.

The latest Westpac-Australian Chamber of Commerce and Industry survey of industrial trends shows that, while moderating in the September quarter, results remain well above those of 2014."The sharp drop in the Australian dollar is reshaping the economy boosting the export competitiveness of manufacturers and increasing export returns," Westpac senior economist Andrew Hanlan says.

Pair is currently being traded slightly below 0.72 handle. Pair is likely to find support around 0.7150 level and resistance above 0.7250 area. Later today, in the US session, Unemployment Claims, Building Permits, Housing Starts and FOMC interest rate decision are scheduled for a release.

More in this category: « Euro rebounded in the US session Italian Trade Balance showed surplus of 8 billion euros »

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