Australian dollar Update 17/01/2012

[John from Moneycorp]

The three Commonwealth commodity dollars led the field, striding ahead during the first four days of the week before handing back some of their gains on Friday. There was nothing particularly distinctive about any of the trio: it was just that investors were stampeding towards the currencies and other investments that would, in their opinion, benefit most from a solution to the Euroland sovereign debt crisis.

Statistics from the Australian economy were few and didn’t bring much to the party. November's new home sales figure was the only obviously positive number, rising by 6.8% in November. The number of building permits issued during that same month was either good, if you looked at the 8.4% monthly increase, or bad if instead you concentrated on the -18.9% annual decrease.

Retail sales were unchanged on the month; a bad signal to those who had expected growth, but a relief to investors who had feared a decline.

[Adjutant]

Any recommendations for those looking to move to Oz in the next 6 months ?

[Adjutant]

Depressing outlook in the news today for the Pound
http://www.news.com.au/business/olym...-1226247409428

[John from Moneycorp]

At the moment, the Australian dollar remains strong – current market sentiment is much calmer with rising “risk appetite” and this boosts the Aussie dollar.

The UK economy still has problems and it is likely more quantitative easing will take place over the next few months, this usually weakens the pound. Unemployment figures, in the UK, are out shortly and data like this can have an impact on the exchange rate.

If you need to transfer money soon, it is worth considering the different contract options available when buying currency. These can help you take advantage of favourable movements in the rate and also protect you if there are adverse movements.

Further information on these options can be found here – http://moneytransfer.pomsinoz.com/Contractoptions.html

Happy to discuss your situation further, feel free to drop me a private message.

Thanks

John

[John from Moneycorp]

The Australian dollar weakened slightly after data showed employment in Australia had fallen in the month of December. Australia lost jobs for a second straight month in December, the nation’s worst year for employment in almost 20 years.

[Heather Law]

At the moment, the Australian dollar remains strong – current market sentiment is much calmer with rising “risk appetite” and this boosts the Aussie dollar.

The UK economy still has problems and it is likely more quantitative easing will take place over the next few months, this usually weakens the pound. Unemployment figures, in the UK, are out shortly and data like this can have an impact on the exchange rate.

If you need to transfer money soon, it is worth considering the different contract options available when buying currency. These can help you take advantage of favourable movements in the rate and also protect you if there are adverse movements.

Further information on these options can be found here – http://moneytransfer.pomsinoz.com/Contractoptions.html

Happy to discuss your situation further, feel free to drop me a private message.

Thanks

John

Sorry to come accross as a little 'thick' on this issue...if the UK pound weakens does that mean the Aus dollar goes up or down?

[John from Moneycorp]

If the UK pound weakens, this typically means the Aussie dollar could go down further - any negativity for a country usually has an adverse impact on its currency.

For example, the employment data from Australia was not good therefore the Aussie dollar weakened (slightly) against most currencies.

[Heather Law]

If the UK pound weakens, this typically means the Aussie dollar could go down further - any negativity for a country usually has an adverse impact on its currency.

For example, the employment data from Australia was not good therefore the Aussie dollar weakened (slightly) against most currencies.

Thanks John, maybe i will understand now!...