AUD/USD Analysis (2015.06.22)
The AUD/USD added 6 points as the greenback continued to slide in the morning session. The pair is trading at 0.7775. The Australian dollar is higher as traders hope for progress in the stalemate over Greece’s debt negotiations.Commonwealth Bank currency strategist Joseph Capurso said the Australian dollar hadn’t moved much in morning trade, as investors are waiting for a meeting of the Eurozone’s 19 finance ministers in Brussels on Monday. ”They are just holding their breath and waiting to hear news from that later tonight,” Mr Capurso said.The meeting comes after Greek Prime Minister Alexis Tsipras overnight presented new proposals to European leaders aimed at ending his country’s debt crisis that could see Greece crash out of the Eurozone.
The price of iron ore has edged closer to the $60 a tonne mark as doubts around Chinese demand persist. At the end of the latest session, benchmark iron ore for immediate delivery to the port of Tianjin in China was trading at $60.70 a tonne, down 0.3 per cent on its prior close of $60.90 a tonne. It was the commodity’s weakest close since May 26, with falls of over 7.1 per cent coming during the last week of trade.FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.