Mid-Day Report: Selling of AUD Broadens to CAD and NZD as Risk Aversion is Back

[Forex-Outlook]

Risk aversion is back driving the markets today. In particular, selloff in commodities has intensified again with gold dives to as low as 1175 so far while crude oil also resumes recent decline and reaches as low s 67.55. European equities give up earlier against with DAX and CAC dropping over -2% so far. US equities are set to open sharply lower too as unexpected rise in jobless claims do little to support investor sentiments. Weakness in Australian dollar has now broadened to Canadian dollar and New Zealand dollar. The Japanese yen is the main beneficiary this time and rises over 3.8% and 3.5% against Aussie and Loonie respectively. European majors are soft too but are somewhat supported by buying against commodity currencies and remain steady against the greenback.

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