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    Thread: The Pound vs Australian dollar


    1. #21

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      Interesting day ahead for the UK with the budget release today - George Osborne will deliver this at 12:30pm.

    2. #22

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      A little review of the past week below.

      The Aussie and the pound are unchanged against one another. Sterling covered a range of one and a half Australian cents without ever really threatening to head off in either direction.

      Analysts cannot work out whether or not the RBA's 3% Cash Rate has further to fall but with it at that level for now, and with a triple-A sovereign credit rating, investors remain comfortable with the Aussie, overvalued or not.

    3. #23

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      Some good news for the UK!

      The economy has avoided falling back into recession. The Office for National Statistics preliminary estimates have been released this morning for gross domestic product (GDP) – it showed the UK economy grew by 0.3% in the first three months of the year.

    4. #24

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      The Australian dollar has weakened recently against the pound.

      This is mainly down to the following - poor data released in Australia (disappointing building approvals figures), plus US stocks and commodity prices have weakened.

    5. #25

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      Well, the weakening seems to be just a bounce in a continuous, even if moderate in the last 24 months, growth.
      At least that's what I see looking at the past five years here:


      source: http://uk.finance.yahoo.com/q/bc?s=AUDGBP=X&t=5y&l=off&z=m&q=l&c=



      Diane likes this.

    6. #26

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      In an attempt to counter slowing growth in the country's mining sector, the RBA in Australia have cut its interest rate to a record low of 2.75% from 3%.

      Following this news, the Australian dollar is weaker.

    7. #27

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      The Australian dollar has been much weaker against the pound recently - please see a review below.

      A bad week for the Aussie saw it lose a cent to the pound and nearly two to the US dollar. From its long term highs in March and April it has fallen by -7% against the pound.

      The -0.4% monthly fall in retail sales didn't help. Nor did the construction sector purchasing managers' index, which was down by four points at a seriously negative 35.2. The trade surplus looked good though, with exports up and imports down. Best of all was the 50k rise in employment and the downward tick in unemployment from 5.6% to 5.5%.

      The trump card on the downside, however, was the Reserve Bank of Australia's decision to cut its benchmark interest rate from 3% to 2.75%. The decisions itself was not a surprise but many investors had expected the move to come in June or July.

      The start of this thread mentions interest rate announcements can have an impact on the exchange rate and that is what has happened here - a decision taken, which took most by surprise, therefore we've seen a movement in the GBP/AUD rate.

    8. #28

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      There has been a big shift in the GBP/AUD exchange rate with the Australian dollar weaker.

      The Aussie dollar has weakened recently due to the cut in interest rates in Australia along with some concerns about the Australian and Chinese economies -the strength of the US-dollar has also impacted the Aussie.

    9. #29

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      Thanks for these updates John.
      Ktee likes this.
      ------------
      Regards
      Tony
      www.worldofglasscraft.com

    10. #30

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      Hi Tony, are you trying to migrate? I noticed your glasscraft site and thought I would take a look. We are going to Adelaide to work in a glass company. We had SGO Essex at one stage, not really glass craft but I did enjoy a course on sand blasting and gluechiping down your way a few years ago.
      Quote Originally Posted by thearmchairdetective View Post
      Thanks for these updates John.

     

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