The Australian currency has held a three-day advance against the American counterpart on prospects Asian stocks will extend a global rally in shares, boosting demand for higher-yielding currencies.
Moreover, the Australian dollar continues its downside movement versus the US dollar on concerns the global economic recovery is slowing during the period.
Asian stocks dropped as financial and information technology companies recorded a heavy drop, while the Standard & Poor’s 500 Index also fell after the U.S.equity benchmark rose by the most in almost two weeks amid speculation a slowing economy will force the Federal Reserve to boost stimulus efforts.
On Thursday at 12:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased to 408 thousand last week.
source: http://www.fxstreet.com/fundamental/analysis-reports/crosses-fundamental-outlook/2011/08/25/
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