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Weekly Currency Update GBP/AUD - Week ending 16th April

Weekly Currency Update GBP/AUD - Week ending 16th April

Old Apr 20th 2010, 1:37 am
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Default Weekly Currency Update GBP/AUD - Week ending 16th April

Hi All,

Last week’s NAB Business Confidence (16 from 19) slipped back from a near 8 year high but forward orders and business condition gauges remain elevated that suggests the economy is coping well with tighter monetary policy. Upward pressure on wages through skill shortages and the narrowing output gap will concern the RBA at future monetary policy meetings, as will the MI Inflation Expectations (+4.1%) survey that rose for the 2nd straight month and indicates mounting inflation pressure after a period of stability.

However, demand for Home Loans (-1.8% m/m) is fading as higher mortgage rates and withdrawal of government stimulus cool underlying housing demand. RBA Deputy Governor Debelle had traders reassessing interest rates forecasts as he suggested that the neutral rate for official rates may be closer than previously thought; the market is currently discounting another 50 basis points of increases over the next 6 months.

GBP/AUD movement – High’s & Low’s of last week (12th April– 16th April)

High’s: 1.6669
Low's: 1.6454
A movement of 1.31%

Difference on £200,000

High: AUD 333,380
Low: AUD 329,080
Difference of: AUD 4,300

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.


Mark Bodega
Director - HiFX
Windsor2 is offline  

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