Australian Dollar
Nov 21st 2011 | 11:47 pm
#46
BE Enthusiast
Joined: Nov 2011
Posts: 335
Re: Australian Dollar
Seems like they're in more trouble than I thought if this visa is serious.
Nov 22nd 2011 | 4:51 pm
#47
Melbourne - NE suburbs
Joined: Jun 2008
Posts: 1,032
Re: Australian Dollar
Risk averse mania at the moment....pushing the rate right up to 1.60 again
Jan 24th 2012 | 9:06 pm
#49
Thread Starter
Forum Regular
Joined: Sep 2011
Posts: 220
Dollar Updates
Just thought I would post these updates on the Oz and Kiwi Dollars.
For further info on currency exchange visit the forum page below:
http://exchangerates.britishexpats.com/
AUD weekly currency update
The Australian dollar's performance was perhaps better than it deserved in the light of some dubious economic data. It clustered with the NZ dollar, the euro and the Swiss franc to take advantage of a slightly more optimistic attitude among investors, adding three quarters of a cent against the pound.
The data that might have hampered it, but didn't, included a weak recovery in mortgage lending as well as monthly and annual falls in new motor vehicle sales. The most surprising figures were those for employment. While the unemployment rate was steady at 5.2%, 29,300 jobs were lost in December, and the November job loss count was revised upwards to 7,500. Although the numbers were a disappointment, they had only a temporarily negative effect on the Aussie dollar. It started this week heading higher, but gains could be limited by Thursday's Australia day holiday – which many investors will be tempted to turn into a four-day weekend.
NZD weekly currency update
The NZ dollar kept close company with the Australian dollar, the euro and the Swiss franc, strengthening by nearly a cent against sterling on the week. It did so despite a couple of relatively downbeat NZ economic indicators.
December's Quarterly Survey of Business opinion revealed a second consecutive fall in business confidence. It also suggested that upward pressure on prices has disappeared completely. That suggestion became reality 24 hours later when fourth quarter inflation came in at -0.3%; not only are prices not going up, they are falling. The main reason for the disappearance of inflation – and one that will take UK inflation lower this month – is the increase in general sales tax which happened in October 2010 and which therefore dropped out of the reckoning in the fourth quarter of 2011.
For further info on currency exchange visit the forum page below:
http://exchangerates.britishexpats.com/
AUD weekly currency update
The Australian dollar's performance was perhaps better than it deserved in the light of some dubious economic data. It clustered with the NZ dollar, the euro and the Swiss franc to take advantage of a slightly more optimistic attitude among investors, adding three quarters of a cent against the pound.
The data that might have hampered it, but didn't, included a weak recovery in mortgage lending as well as monthly and annual falls in new motor vehicle sales. The most surprising figures were those for employment. While the unemployment rate was steady at 5.2%, 29,300 jobs were lost in December, and the November job loss count was revised upwards to 7,500. Although the numbers were a disappointment, they had only a temporarily negative effect on the Aussie dollar. It started this week heading higher, but gains could be limited by Thursday's Australia day holiday – which many investors will be tempted to turn into a four-day weekend.
NZD weekly currency update
The NZ dollar kept close company with the Australian dollar, the euro and the Swiss franc, strengthening by nearly a cent against sterling on the week. It did so despite a couple of relatively downbeat NZ economic indicators.
December's Quarterly Survey of Business opinion revealed a second consecutive fall in business confidence. It also suggested that upward pressure on prices has disappeared completely. That suggestion became reality 24 hours later when fourth quarter inflation came in at -0.3%; not only are prices not going up, they are falling. The main reason for the disappearance of inflation – and one that will take UK inflation lower this month – is the increase in general sales tax which happened in October 2010 and which therefore dropped out of the reckoning in the fourth quarter of 2011.
