The Australian Dollar (AUD) has extended last week’s losses falling back to 0.6780 this morning as risk mood waivers and equity markets close in the red. Fed minutes confirmed members were unanimously in favour of a 25 point rise on the 1st of Feb allowing them to better evaluate the economies progress as they determine the extent of future tightening. Another 25 point rise at the next meeting late March was also likely. US annual growth slowed in December to 2.7% from the expected 2.9% the 4th quarter straight it has published underestimate. Spending from services was up 2.4% while exports fell 1.6%. Upcoming on the docket we have US new home sales and looking into next week Australian CPI. 0.6650 offers stable support in the pair.
The current interbank midrate is: AUDUSD 0.6813
The interbank range this week has been: AUDUSD 0.6781- 0.6919