The dollar, which fell this year to the main 16 countries – trade partners of the United States, in the next 3 months will strengthen against the euro, Aoussa, New Zealand dollar is not as strong as analysts expected in the previous forecast.According to the forecast UBS, the euro to the dollar amount to 1.40, the Australian dollar to 80 cents, to New Zealand dollar 65 cents. Dollar / Swiss franc amount to 1.09 to 1.12 Canadian dollar? analysts say. According to the previous forecast of UBS, prospects for the euro / dollar was estimated as 1.35, Aoussa 75 cents, the New Zealand dollar 60 cents, the Canadian dollar exchange rate forecasts of 1.18, the Swiss franc 1,13.
Posts Tagged ‘Australian Dollar’
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Strong commodity prices and doubts over the UK economy allow the aussie to gain further ground
Posted by admin on October 13th, 2009
The Australian dollar continued to push higher yesterday, advancing over a cent as sentiment towards the higher-yielding currency remained positive. Commodity currencies, such as the aussie, made progress yesterday in line with stronger prices for oil and metals. Rallying global equity and commodity markets encouraged the rise in risk appetite in the market, which heightened demand for the aussie dollar. In the UK, the market still holds the view that further quantitative easing could be announced in November, which has put substantial pressure on the UK currency as other major economies look to wind up stimulus measures.
The aussie continues to trade strongly, supported by risk appetite in the market
Posted by admin on October 9th, 2009
The aussie climbed a further two cents yesterday as figures revealed rising employment in Australia, and as rising risk appetite supported strong demand for high yielding currencies. The Australian dollar continued to push higher as encouraging data from the labour market gave investors further cause to buy into Australian assets. The recent rate hike to 3.25% has increased the yield gap between the two currencies, and the recent downturn in unemployment has simply reinforced the sentiment that Australia is at the forefront of the global economic recovery, strengthening aussie demand.
Weak equities undermined the aussie’s upward trend yesterday allowing the pound to post marginal gains
Posted by admin on October 8th, 2009
The pound rebounded nearly two cents from its intra-day low against the aussie, halting its sharp slide and posting marginal gains of 0.2%, to close the day up at 1.7912. The Australian dollar has rallied strongly over the past two days following the surprise rate hike, but the aussie pulled backed yesterday as risk sentiment in the market dissipated. The high-yielding currency backtracked as equities took a downward turn and as investors sought defensive positions ahead of important statements in the UK and EU today. Additionally, analysts noted that market players may have over-bought the aussie, realising that it was only one central bank to raise rates and that similar moves from other nations may still be some way off.
Rate rise to 3.25% in Australia boosts demand for the aussie
Posted by admin on October 7th, 2009
The Australian dollar continued to push record highs yesterday, supported by the RBA’s decision to raise rates as the global financial crisis eases. The aussie continued to rally strongly, gaining nearly three cents, a 1.4% movement, as investors sought to take advantage of the higher-yield now available on Australian assets. The Reserve Bank of Australia became the first of the G20 nations to raise their base cash rate and helped to ease fears over the state of global economic recovery. Analysts also noted that the widening yield advantage points to further aussie appreciation, particularly as the RBA, unlike other central banks, does not seem too concerned about their currency strength.
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A rise in aussie interest rates broadly strengthens the Australian currency
Posted by admin on October 6th, 2009
Speculation over an imminent rate rise in Australia sent the pound tumbling yesterday, losing 1.5% to close at 1.8146. The Australian dollar advanced strongly as expectations grew that the Reserve Bank of Australia would move to raise interest rates at its policy meeting. Forecasters were split evenly over whether the Reserve Bank of Australia would keep rates on hold in their meeting tomorrow or wait until November or December to raise rates by 0.25 basis points. Expectations were given a further lift as figures yesterday showed that Australian job advertisements last month rose at their fastest pace since late 2007, fuelling optimism over the country’s recovery.
Pound made gains against the aussie on Friday following weak US data
Posted by admin on October 5th, 2009
The pound advanced a further cent against the aussie on Friday, building on strong gains, as investors remained cautious following weak US employment figures. The US economy suffered 263,000 job cuts in September, which was far more than had been expected according to official data, sapping demand for ‘riskier’ assets. The pound advanced to over 1.84 as investors sold off the risky currency amid concerns that the US recovery may not be as robust as initially thought. However, the pound did cap its gains, as the US data dragged down European equities, with the FTSE falling below 5000 points, which dampened confidence in the UK currency.
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Some Basics of Forex Trading
Posted by Tushar Mathur on October 4th, 2009
If you are new into the Forex trading and want to gain some quick knowledge on the Forex trading then in that case here are some basics to help people like you. The Forex market is somewhat different than other markets and one need not open for the market to open. The reason being somewhere on the globe its morning and thus the market is in swing there, unlike the stock market so you have a 24/7 exposure to the market. Under mentioned are some of the market timings.
Positve UK data enabled the pound to reverse losses against the aussie yesterday
Posted by admin on September 30th, 2009
The pound reversed recent losses to gain 0.75% on the aussie yesterday in the wake of some positive economic data, which spurred investor demand. A GDP revision showed that British output contracted 0.6% in the second quarter compared with activity in the first three months of 2009, better than the previous estimate of -0.7%, according to the Office for National Statistics This data was supported by higher realised sales and an increase in net lending to individuals, which, together, underlined hopes that the UK should pull out of recession in the 3 rd quarter.
Aussie hits new highs on sterling weakness and a rise in demand for higher-yielding currencies
Posted by admin on September 25th, 2009
Selling pressure on the pound and demand for higher-risk currencies saw the aussie advance to a fresh twenty-year high of 1.8464 against the pound. Remarks by Bank of England Governor Mervyn King to a regional newspaper published yesterday underscored the central bank’s lack of concern about the weakness of the pound, which sent the currency spiraling.The aussie received further support as investors shifted funds into higher-risk currencies after the US Fed bolstered expectations that interest rates would remain low for some time.Risk appetite was also encouraged after the G20 meeting, where a statement showed signs that that global stimulus measures would remain in place, buoying demand for the Australian dollar.
Euro, British Pound May Decline Against US Dollar as Equity Futures Point Lower (Euro Open)
Posted by admin on September 15th, 2009
The Euro and the British Pound may see selling pressure with US stock index futures are trading down nearly 1% ahead of the opening bell in Europe, pointing to sagging risk appetite that stands to boost the safety-linked US Dollar. Germany’s ZEW survey of investor confidence, Swiss Industrial Production, and UK CPI highlight the economic calendar.Key Overnight Developments• New Zealand Manufacturing Falls Most on Record in Second Quarter• UK House Prices See First Gains in Two Years on Low Supply, Says RICS• Australian Dollar Falls as RBA Minutes Weigh on Rate Hike ExpectationsCritical LevelsThe Euro traded lower in Asian trading, slipping as much as -0.3% against the US Dollar.
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