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Discussion in 'Money & Finance' started by John From Moneycorp, Jan 31, 2012.

  1. John From Moneycorp

    John From Moneycorp Foreign Exchange Expert

    The Australian dollar moved higher against the US dollar to about the same extent as the pound. The two opened in London this Monday unchanged against each other from a week earlier. En route however, and almost unnoticed by investors, sterling touched an all-time low against the Aussie.

    Holding back the Australian dollar were a handful of uninspiring economic data. Two leading indices, from the Conference Board and the Westpac Bank, pointed to a slowing Australian economy. Backing up that suggestion were the consumer price index figures, which showed 0% inflation in the fourth quarter of the year, while in 2011 as a whole CPI rose by 3.1% – appreciably less than the 3.5% by which prices went up in the year to September. If investors had any hope of higher interest rates before the announcement, the figure brought them back to earth.
     

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  3. John From Moneycorp

    John From Moneycorp Foreign Exchange Expert

    The Aussie dollar remains strong – in relation to recent news, the main reasons for this are below:

    1) Strong export data – figures released in Australia showed positive international trade figures

    2) Situation in Europe remains calm (at the moment)

    Stability across financial markets typically boosts the Aussie dollar and recently there has been less pressure on the eurzone even though concerns remain.
     

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