Australian dollar Update 17/01/2012

[John from Moneycorp]

The three Commonwealth commodity dollars led the field, striding ahead during the first four days of the week before handing back some of their gains on Friday. There was nothing particularly distinctive about any of the trio: it was just that investors were stampeding towards the currencies and other investments that would, in their opinion, benefit most from a solution to the Euroland sovereign debt crisis.

 

Statistics from the Australian economy were few and didn’t bring much to the party. November's new home sales figure was the only obviously positive number, rising by 6.8% in November. The number of building permits issued during that same month was either good, if you looked at the 8.4% monthly increase, or bad if instead you concentrated on the -18.9% annual decrease.

 

Retail sales were unchanged on the month; a bad signal to those who had expected growth, but a relief to investors who had feared a decline.

[Guest The Standrings]

hi

is anybody due to change money? we are and the exchange rateis 1.47 will this go up? or should i just buy?

thanks darren

[Guest Helchops]

hi

is anybody due to change money? we are and the exchange rateis 1.47 will this go up? or should i just buy?

thanks darren

 

The million dollar question - we changed most of ours at 1.6 as I didn't want to hold out any longer...

[trevorpayne]

hi

is anybody due to change money? we are and the exchange rateis 1.47 will this go up? or should i just buy?

thanks darren

 

 

I think I would hold out there will be a lot of money pouring into the UK over the next year with the olympics.

Which should ease the coffers a little with all the tourists spending money and they should have plenty to spend with the exchange rate being so good in their favour.