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

Weekly Currency Update - GBP/AUD Week ending 9th October

Weekly Currency Update - GBP/AUD Week ending 9th October

Old Oct 12th 2009, 10:19 pm
  #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 9th October

Hi All,

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

The biggest news of last week was the decision by the RBA (Reserve Bank of Australia) to hike rates by 25 basis points (3.25%). The increase, though well flagged by RBA Governor Stevens, surprised the market and propelled the AUD to a weekly high of 0.9090, a level not seen since August 2008. The early move to start to ‘normalise’ monetary policy is the first among the G20 countries and looks to be the first of a series of increases that will see rates back to 4.50 by mid-2010. The RBA decision was vindicated by the subsequent release of employment data that showed full-time employment growing by 35,400, reversing a 30,800 fall the previous month, and the Unemployment Rate dropping to 5.7% from 5.8%.

This week Business and Consumer Confidence releases will be watched for continuing improvement, however the surveys will not reflect last week’s hike in official interest rates but future releases will show how robust confidence is in the face of a tightening monetary policy environment.

GBP/AUD movement – High’s & Low’s of last week (05/10/09 – 09/10/09)

High’s: 1.8428
Low's: 1.7517

A movement of 5.20%

Difference on £200,000

High: 368,560 AUD
Low: 350,340 AUD

Difference of: 18,220 AUD.

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.

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 - Manage Preferences - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Your Privacy Choices -

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