Monday, 3 December 2012

Daily Morning Report 03/12/2012 | Forex Trading Analysis

The Australian dollar traded lower versus the greenback as Australian business’ reported a 2.9 percent operating loss in the third quarter while inventories increased by 1.1 percent suggesting the overall economic climate appears to have slowed.
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The greenback has gained strongly versus the yen after the dissolution of parliament in Japan and the dollar yen rate has increased over 3% on the monthly basis; this scripts the largest increase since February this year.
The euro suffered a bit of a setback as the wake of Moody's downgrade of the euro zone rescue fund late last week.  China's official manufacturing purchasing managers' index rose to a 7-month high of 50.6 in November from 50.2 in October, following a preliminary private sector survey that showed factory activity reviving to a 13-month high.

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