26th September 2011
A major push on commodity sales has impacted on the Australian dollar (AUD) over recent days, pushing the currency to a ten-month low.
Commodity trading for gold and oil were two of the worst affected areas, with significant selling action leading to falls of seven and just over two per cent respectively, the Sydney Morning Herald reports.
"There was hope that markets were going to have a nice little rebound today, especially with Asia-Pacific bourses showing futures somewhat in the black, but that quickly reversed during the day," Easy Forex senior currency dealer Francisco Solar told the news provider.
AUD recently had a torrid time in global markets, falling to a five-week slump against the US dollar last week.
Figures from the Melbourne Institute revealed inflation expectations in the country rose to 2.8 per cent for September - up from 2.7 per cent in the previous month - significantly impacting on forex trading for AUD.
Posted by Andrew Johnston
Begin trading today! Create an account by completing our form
At One Financial Markets we are committed to safeguarding your privacy.
Please see our Privacy Policy for details about what information is collected from you and why it is collected. We do not sell your information or use it other than as described in the Policy.
Please note that it is in our legitimate business interest to send you certain marketing emails from time to time. However, if you would prefer not to receive these you can opt-out by ticking the box below.
Alternatively, you can use the unsubscribe link at the bottom of the Demo account confirmation email or any subsequent emails we send.
By completing the form and downloading the platform you agree with the use of your personal information as detailed in the Policy.