The USD index dipped to a historical 30-year low of 76.77 level with the expectations of rate cut by the FED this week, and a further rate cut by December FOMC meeting.
NZD traded firmer after New Zealand trade deficit for the month of September came in narrower than expected. The lower trade deficit was largely attributed to the strong export.
Crude oil prices rose above $93 per barrel and gold traded to a fresh 28-year high. This has pushed the CAD to a 47-year peak against USD.
Market will trade cautious ahead of the 2-day FOMC meeting which will begin tonight. Market will also keep a close eye on the U.S consumer confidence data for more clues.
DOMAINS YAHOO FOR CONFERENCE CALL SERVICE
Tuesday, October 30, 2007
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