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Discussion in 'Money & Finance' started by John From Moneycorp, Apr 24, 2012.

  1. John From Moneycorp

    John From Moneycorp Foreign Exchange Expert

    Every dollar on the planet had a difficult week and the Aussie was no exception, keeping pace with its US namesake on the way to a loss of more than two and a half cents against sterling. It was not just that the Australian economic data were a disappointment; figures from the UK were better than expected.

    The only positive Australian indicator was motor vehicle sales, which jumped by 4.0% in March. Import and export prices both fell in the first quarter of 2012. Factory gate prices were down too, halving the annual rate of increase to 1.4%.

    Meanwhile in Britain a fall in the unemployment rate and unexpectedly strong retail sales in March forced a reappraisal of the pound by investors. On Friday the Bank of England's trade-weighted sterling index touched its highest level in 20 months.
     

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  3. John From Moneycorp

    John From Moneycorp Foreign Exchange Expert

    Negative news for the UK today as the economy has returned to recession (double-dip recession).

    The UK economy shrank by 0.2% in the first three months of 2012 and this news confirms the UK economy is still struggling to gain any momentum.


    This is the first double-dip recession since 1975.
     
    Last edited: Apr 25, 2012

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