Weekly Currency Update - GBP/AUD Week ending 20th November

[Windsor02]

Hi All,

As promised here’s an update on what’s been happening with the Aussie Dollar over the last week.

Last week’s Melbourne Institute Leading Index rose 2.2 points to 255.1 in September with three (the all ordinaries share index, AU dwelling approvals, and US industrial production) of the four components making positive contributions; only the real money supply was negative. The growth component of the index surged to 5.8% and, if proved to be accurate, would see GDP (Gross Domestic Product) growth in excess of 3.5% in 2010. The RBA (Reserve Bank of Australia) monetary policy meeting minutes for November cooled market expectations of a rapid rise in official rates as the Board signalled further “gradual” increases and “the pace of adjustment remained an open question”..

Two important elements of the confidence and potential growth in the economy will be seen this week with Construction and Private Capital Expenditure.

GBP/AUD movement – High’s & Low’s of last week (16/11/09 – 20/11/09)

High’s: 1.8195
Low's: 1.7863

A movement of 1.86%

Difference on £200,000

High: 363,900 AUD
Low: 357,260 AUD

Difference of: 6,640 AUD.

Whilst FX isn't the most thrilling of subjects, the sooner you begin to think about your money transfers, the more likely you are to make your money go further.

Regards




Jon Sermon
HiFX