Sign in to follow this  
Guest HIFX plc

GBP/AUD Weekly Update

    Recommended Posts

    Guest HIFX plc

    Hi All,


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


    GBP/AUD rallied to a three-week high last Wednesday after domestic economic data showed a key measure of Australian consumer confidence fell in May, hurt by the previous week’s debt-fuelled government budget and by worries about job losses.


    Consumer confidence fell this month, reversing some of April’s surge while consumers were also notably unhappy with the Central Bank’s decision to keep interest rates unchanged at 3.00% in May. The survey of 1,200 people by the Westpac-Melbourne Institute showed its index of consumer sentiment fell 4.3% to 88.8 between April and May, its second biggest fall following the release of a budget in the last ten years.


    Prospects of a weakening jobs market led to a rather moderate rise in wage costs for the first quarter. Government data on Wednesday showed first-quarter wage costs rose 0.8% in the first quarter, in line with expectations but slowing from a revised 1.3% rise in Q4.


    AUD Movement – High’s & Low’s of last week (18/05/09 –22/05/09)

    High’s: 2.0451 (21/05/09)

    Low's: 1.9934 (19/05/09)


    Difference on £200,000

    High: 409,020 AUD

    Low: 398,680 AUD

    Difference of: 10,340 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.


    A monthly update will be added next week.




    Jon Sermon


    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

    Sign in to follow this