Lawrence Villamar

Despite enjoying a brief stint back above parity yesterday the Australian dollar has fallen for a seventh consecutive day overnight, close to the longest losing streak witnessed since August 2011.

It has been a roller coaster ride for the Aussie over the past 24 hours, which saw it initially move higher on the back of strong local employment data before a sharp rally in the greenback last night saw us give up those gains and then some, to trade at close to 11 month lows.

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After opening yesterday looking strong above 1.03, the Aussie took a fall after the local retail sales number disappointed, initially sending us back to the minor support at 1.0280.

The Aussie experienced a bit of a roller coaster ride last week, trading up around 1.0380 early in the week before disappointing Chinese and US manufacturing numbers sent commodities and the Aussie lower, eventually bottoming out around 1.0225 on Thursday.

The Australian dollar dropped to its lowest level in over a week against the Greenback yesterday following the release of building approval figures which missed forecast.

We find the Aussie significantly lower this morning following some poor economic data and a sharp fall in commodities overnight.

Having look set to end the week on a positive note the Australian dollar managed to keep its head above the 1.03 mark for much of Friday’s session with investors keen to pressure weekly highs just short of the 1.0350 handle.

Pointing towards increased demand for Australian resources, China’s trade balance figures released yesterday revealed imports from Australia were at their highest level in eight months in March, climbing a staggering 18.4 percent from a year earlier.

The Australian dollar initially rallied against the Greenback yesterday after China’s Consumer Price Index came in below expectation reducing the pressure on Policy Makers to tighten monetary policy in response

Whilst a survey yesterday showed the total number of job advertisements declined by 1.5 percent in March the Australian dollar consolidated its losses from over the weekend trading close to its opening level of 1.0370 for much of the intraday session.

Despite a handful of positive data releases locally last week including strong building approvals, accelerated retail growth and improved trade figures it’s been the sharp fall in the value of the Japanese Yen which has triggered the move away from the Australian dollar.

The release of a better than expected trade balance locally yesterday saw the Aussie begin an uptrend that saw it gain to close to 1.05 prior to the US session.

The Aussie moved marginally higher yesterday following the RBA rate announcement and accompanying statement.

The Aussie spent much of yesterday morning trading close to where it opened, as the lack of investors in the market kept ranges tight.

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Stopping 30 basis points shy of its highest level in two months during domestic trade yesterday the Australian dollar received a boost following comments from the RBA which stated global conditions have improved significantly, reducing the likelihood that interest rates will fall when policy makers meet next Tuesday.

Remaining firm up above the 1.0400 handle yesterday global risk sentiment received a boost following news that Cyprus had clinched a last-ditch deal with International lenders.

The Australian dollar remained firm on Friday doing well to consolidate its gains after a generally positive week of trading.

The Aussie managed to claw back some of its post-Cyprus-bailout losses last night after the initial shock dissipated, managing to break back above 1.04.

After spending much of Friday stuck between 1.0365 and 1.0385, the Aussie finally managed to break free of this tight range after some disappointing US data helped it get through 1.04

After a strong rally on Tuesday night, the Aussie had a fairly uneventful Asian session, trading just above 1.03 but not breaking higher than the previous night’s high.

Without much help the Australian dollar consolidated its gains from overnight Monday, remaining within its recent ranges against the Greenback intraday yesterday.

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The Australian dollar has enjoyed a solid turn around over the past 24 hours rallying considerably when compared against its US Counterpart.

Australia’s trade deficit unexpectedly widened in January, figures released yesterday revealed.

Reaching its highest level in over a week against its US Counterpart the Australian dollar was propelled forward yesterday after domestic GDP figures came in spot on expectation.

China has provisionally overtaken the U.S. as the world's largest net importer of oil, said the Financial Times on Tuesday, after the U.S. posted its lowest import figures since 1992 on the back of booming domestic oil production.