My forecasts by EURUSD, GBPUSD, USDCHF, USDJPY, GOLD - page 12
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The Aussie dollar was up against all 16 major currencies as retail sales climbed 0.9% in August after having dropped by the same amount in July, beating estimates of 0.5%. I consider this to be a very strong result and shows the continued strength in Australia. It touched a 13-month high of .8819 during intraday trading and I expect continued strength.
Commodity currencies vs USD
The Dollar fell across the board, slightly against the majors but plummeted against currencies tied to commodities. Equities rose sharply in Europe and in the US - adding weakness to the USD. A better than expected ISM Non-Manufacturing Index, showing the first expansion in more than a year boosted stocks. Wall Street rose after four days, with the Dow Jones gaining 1.18% closing at 9600 points. The NASDAQ rose 0.98% and The S&P 500 soared by 1.5%. Crude oil ended above $70 a barrel. Gold (XAU) rose and finished at the highest level in a week at 1016$ an ounce. Though I've traded XAU pretty successfully in the past, these levels are starting to make me a bit nervous. Oh, and Obama makes me equally nervous. Did the USD drop after Rio won the Olympic bid? ;-) Way to go "O"!