John from Moneycorp

Aussie Dollar Update 6th Sept 2011

    Recommended Posts

    Hi everyone

    The commodity-oriented Australian, Canadian and New Zealand dollars clustered just ahead of the pound after a game-of-two-halves rally and relapse. That Australian dollar ended up leader of the bunch, but only by a narrow margin and for no compelling reason.

    Other than its still-attractive interest rate, there was little to commend the AUD. A handful of Australian economic indicators showed growth in the services sector, while manufacturing activity shrank more quickly. A slackening residential property market delivered an -8% fall in new home sales, continued softness in building approvals and a -2.6% annual fall in the RP Data-Rismark house price index.

    When the Reserve Bank of Australia board meets to discuss monetary policy this week, most analysts think it will leave the cash rate at 4.75%. However, a significant minority now believe a downward move will come before the end of the year.


    To find out how you can protect yourself from adverse movements in the rates- or take advantage of them if you are sending funds out of Oz contact Moneycorp today.



    Share this post

    Link to post
    Share on other sites

    Create an account or sign in to comment

    You need to be a member in order to leave a comment

    Create an account

    Sign up for a new account in our community. It's easy!

    Register a new account

    Sign in

    Already have an account? Sign in here.

    Sign In Now