Go Back  British Expats > Partner Forums > HiFX - International Currency Transfers
Reload this Page >

Weekly Currency Update - GBP/AUD Week ending 25th December

Weekly Currency Update - GBP/AUD Week ending 25th December

Old Dec 21st 2009, 8:37 am
  #1  
BE Enthusiast
Thread Starter
 
Joined: Dec 2004
Posts: 524
Windsor2 will become famous soon enoughWindsor2 will become famous soon enough
Default Weekly Currency Update - GBP/AUD Week ending 25th December

Hi All,

As promised here’s a brief update on what’s been happening with the US Dollar over the last week.

This week the AUD has been under sustained pressure as the market reassessed its yield expectations. The MPC minutes sparked the initially AUD selling stating that the decision to hike interest rates in December had been “finely balanced” thus undermining expectations of a February rate hike. This was further compounded by a disappointing GDP number (+0.2%q/q against +0.4% expectations) and comments from the RBA’s Ballellino that he felt Australian interest rates had already returned to “normal” levels considering the increased spreads the banking establishment is taking over the OCR. At the start of the week expectations for a February rate hike stood at 45% this was down to 16% by Friday. The AUD also suffered latterly in the week on risk aversion following year end liquidation in equity markets. In the absence of any significant data and a general lack of liquidity; equity markets are likely to be the primary driver of the AUD’s direction this week..

GBP/AUD Movement – High’s & Low’s of last week (14/12/09 – 18/12/09)

High’s: 1.8306
Low’s: 1.7772

A movement of:3%.

Difference on £200k

High: AUD366,120
Low’s: AUD355,440

Difference of: AUD10,680

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.

A further update will be added next week.

Regards




Mark Bodega
Director HiFX
Windsor2 is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.