Australian one dollar coins surround a U.S. one dollar note in this photo illustration taken in Sydney July 27, 2011. Australian consumer prices rose by more than expected last quarter while underlying inflation proved alarmingly high, reviving pressure f
Australian one dollar coins surround a U.S. one dollar note in this photo illustration taken in Sydney July 27, 2011. Australian consumer prices rose by more than expected last quarter while underlying inflation proved alarmingly high, reviving pressure for an increase in interest rates and lifting the local dollar to a 29-year peak. Reuters/Tim Wimborne

It was another quiet night as the markets head into the Christmas break. The USD remains strong. The AUD did rise to USD 0.8170 during the day yesterday, but is back around the recent lows of USD 0.8115.

Commodity markets recorded some of the largest moves overnight. Oil prices are back towards their recent lows just above $55 a barrel, falling nearly $2 or 3.2% overnight whilst iron ore fell a further 1.8% to $67.90 per tonne, the lowest levels since June 2009.

[Kick off your trading day with our newsletter]

More from IBT Markets:

Follow us on Facebook

Follow us on Twitter

Subscribe to get this delivered to your inbox daily