NEW YORK -(Dow Jones)- The Australian dollar hits a two-month high against its U.S. counterpart Tuesday in the first U.S. trading session of the new year.
A strong appetite for risk has pushed the U.S. currency lower across the board, particularly against commodity-linked currencies such as the Australian dollar. The Australian dollar rose to a two-month high of $1.0388 Tuesday, its highest level since Nov. 9, according to CQG.
Upbeat economic data from around the world to start the year has buoyed risk sentiment. The Institute for Supply Management's U.S. manufacturing index rose more than expected in December, climbing to 53.9. Economists had forecast a reading of 53.5.
-By Stephen L. Bernard, Dow Jones Newswires; 212-416-4528; stephen.bernard@dowjones.com
Pivot: 1.0385
TT Preference: SHORT position below 1.0385 with 0.9650 & 0.9385 in sight.
Other Scenario: Above 1.0385 up move to 1.0725.
Comment: the RSI has struck against a major resistance around 70% and is reversing down.
No comments:
Post a Comment