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Last week saw the Aussie strengthen against the US Dollar, a momentum that has been going on for some weeks now. Also, Bernanke’s promise to help with more money if needed gave us a push along. Against the US Dollar we have reached levels last seen in October.
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Category : Forex, Indicators, Opinion
Overnight we saw German and French Manufacturing Conditions beat expectations marginally. European Industrial New Orders also came in better than expected while in the UK Public Sector Borrowing surprised with a lower deficit than forecast, all which did little to change currency markets.
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For the current situation we are in, some claim governments are at fault, others say that they are just a little piece of a bigger puzzle, which has a serious issue.
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Yesterday saw the release of the Producer Price Index for Australia. It did not surprise, coming in very close to forecasts; the actual figure was 0.3%. Yet another possible reason for our Reserve Bank to cut rates again. In turn our currency remained unchanged at similar levels seen on Friday.
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Category : AUD, Forex, Indicators, Opinion
