By FX Empire.com
Aussie found good support against the US dollar amid optimism that European leaders will contain the region’s debt crisis, increasing demand for higher yielding investments.
On the other hand, the Australian economy has many resources that help the nation to face the global crisis, boosting demand for Aussie.
Meanwhile, Aussie has inclined after the Chinese manufacturing expand for the first time in four months, adding that European financial crisis won’t affect China’s economic recovery, where the Chinese market is the largest for Australian products.
On Wednesday at 00:30 GMT, Australia will release the Consumer Price Index for the third quarter, where the previous reading was up by 0.9% and on the year had a previous reading of 3.6%.
At 12:30 GMT, the U.S. economy will release the Durable Goods Orders for September, where it’s expected to come at -0.7% from the previous -0.1%, while Durables Excluding Transportation is expected to come at 0.5% from the previous -0.1%.
New Home Sales for September will released at 14:00 GMT, with a previous reading of 295 thousand and it’s expected to rise to 300 thousand by 1.7%.
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