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Forex: AUD/USD hits 11-week high as stocks advance

FXstreet.com (Córdoba) - The Australian dollar extended its advance against the greenback and reached its strongest level in almost 3 months, supported by the positive market sentiment and stocks broad gains.

As the S&P 500 set another record high, the AUD/USD rallied to a high of 1.0551, last seen Jan 24. At time of writing, AUD/USD is trading around 1.0540/45 where it posts a 0.6% gain on Wednesday and its third daily rise in a row.

As for technical levels, Valeria Bednarik, chief analyst at FXstreet.com locates next resistance levels for the Aussie at 1.0550, 1.0585 and 1.0620, while she sees supports at 1.0500, 1.0470 and 1.0440.

Forex Flash: Refinancing ahead for Portugal? – Deutsche Bank

In Europe and ahead of this week's Eurogroup/ECOFIN meetings, Reuters is reporting that EU policymakers are considering approving an extension to the Irish and Portuguese programs. According to Macro Strategy Analysts J. Reid and C. Tan at Deutsche Bank, “The extension will see the average maturity of EU loans by increased by seven years, which will smooth the two countries' debt refinancing profiles well into the 2020s. Shorter maturity extensions of between 2-5 years were judged to be not beneficial enough for the country.” Later this week, a draft discussion document prepared by the troika will be presented to finance ministers at this week's Eurogroup/ECOFIN.
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Forex Flash: Majors are bullish ahead - Scotiabank

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