The lack of confidence in Australia’s growth prospects has been helping to pressure the AUD USD. Traders started selling the Aussie after reports surfaced that some economists were cutting short-term gross domestic product forecasts for Australia following recent flooding in the state of Queensland.

This morning the Dollar is getting pounded once again. Simply stated, new liquidity means a weaker Dollar. With the exception of the December Japanese Yen, the Greenback is trading weaker across the board.

The U.S. Dollar is expected to open lower against most major currencies after failing to hold on to overnight gains from the Asian session.

Shortly before the New York opening, investors seem a little reluctant to be short the Greenback as finance ministers from the Group of 20 nations meet in South Korea.

U.S. stock index futures are expected to open lower on the heels of disappointing news from Apple Computer, Inc. and IBM. The indices started to feel pressure last night and never really recovered as selling pressure continued overnight.