Currency Market Updates - GBP/AUD Hits 1997 Lows


	Currency Market Updates - GBP/AUD Hits 1997 Lows

ryder99

8-14-2009 11:24 AM

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tags:

currency market updates, reserve bank of australia

ryder99 says:

The Reserve Bank of Australia are willing to raise interest rates once it is economically viable. Meanwhile the GDP news out of France and Germany has been met with some cynicism. After initial gains for the pound and the euro, the USD fought back late in the day.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/fdfa9d77-d2b1-4a64-968d-86dfad1d2c47/62BF7835-4BF6-40E7-A5C2-5519B5F5D602/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://currencymarketupdates.com/" href="http://currencymarketupdates.com/" style="font-size: 11px;">currencymarketupdates.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><DIV id="headertitle"><A href="http://currencymarketupdates.com/">Currency Market Updates</A></DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><SPAN>GBP/AUD Hits 1997 Lows</SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><P>
14, August 2009</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><P>
The markets had an optimistic start yesterday buoyed with the positive news that France and Germany posted positive Q2 GDP numbers at +0.3% respectively. The news rallied the markets <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_GBPUSD" rel="nofollow"><STRONG><SPAN>with sterling</SPAN></STRONG></A>
and <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_EURUSD" rel="nofollow"><STRONG><SPAN>the euro</SPAN></STRONG></A>
 both making some <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_USDEUR" rel="nofollow"><STRONG><SPAN>gains against the USD.</SPAN></STRONG></A> <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=AMEX:FTYLD" rel="nofollow"><STRONG><SPAN>The FTSE</SPAN></STRONG></A> also hit a 10 month high. <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_GBPUSD" rel="nofollow"><STRONG><SPAN>GBP/USD</SPAN></STRONG></A> made a move back above 1.66 and <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_EURUSD" rel="nofollow"><STRONG><SPAN>EUR/USD to 1.43</SPAN></STRONG></A> as appetite increased. The mood changed in later trading as US data came in weaker than expected. US retail sales posted lower at -0.1% and weekly jobless claims rose by 4,000 swinging the market back into more caution with <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_USDGBP" rel="nofollow"><STRONG><SPAN>USD gaining back.</SPAN></STRONG></A></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><P>
Last night we had a 50 basis point cut in interest rates in South Africa down to 7%, also the Reserve Bank of Australia affirmed that they will look to raise interest rates when economically viable. This has added more strength to the<A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_AUDUSD" rel="nofollow"><STRONG><SPAN> AUD versus the USD</SPAN></STRONG></A> and <A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_AUDGBP" rel="nofollow"><STRONG><SPAN>sterling;</SPAN></STRONG></A> </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><P>
<A  href="http://www.ino.com/info/196/CD3380/quotes.ino.com%2Fanalysis%2Ftrend%2F?symb=FOREX_GBPAUD" rel="nofollow"><STRONG><SPAN>GBP/AUD</SPAN></STRONG></A> is now just over 1.96 bringing us back to 1997 lows.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><P>
<B>Report by Phil McHugh.</B></P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><div align="center"><img src="http://content7.clipmarks.com/blog_cache/currencymarketupdates.com/img/A9E93220-D50B-41D8-A9ED-5049609050A4" alt="Currencies Direct & Forex trading" /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://currencymarketupdates.com/"><div align="center"><img src="http://content8.clipmarks.com/blog_cache/currencymarketupdates.com/img/360ECE9C-5DB3-4D81-8BC0-13EDCAA76577" alt="" /></div></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/62BF7835-4BF6-40E7-A5C2-5519B5F5D602/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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