Open trading account 
The Australian dollar kept up its recent form of strength on Tuesday managing to climb from the open against the US dollar reaching highs of 0.9423 early on in the Asian session. The Aussie levelled out after the small climb as investors awaited monetary policy meeting minutes out locally just before midday. Moments before the minutes the AUD dropped 17 points against the US dollar managing to stay just above US94 cents however after the announcement the Aussie continued to fall another 10 points down to 0.9391. The meeting minutes pointed out that the Reserve Bank of Australia will be hesitant to lift interest rates until the job market improves. The current unemployment rate sits at 5.8 per cent however recent volatility in the employment figures will lead to a cautious approach when the RBA makes their decision on interest rates. The RBA has stated they are looking for a period of “stability” with regards interest rates for the time being. Through the rest of the day the AUD held its ground trading just below the US94 cent handle moving within a very tight margin. Overnight the Aussie finally succumbed to strong US data and dropped sharply to touch lows of 0.9335 however managed to consolidate slightly higher to open today at 0.9360 against the Greenback. Investor’s eyes will be focused on heavy Chinese data out at midday today and the US Federal chair reserve Janet Yellen as she speaks for a second consecutive night this evening
We expect a range today of 0.9315 – 0.9405
We expect a range today of 0.9315 – 0.9405