Thread: OzForex Market Update (16/08/2010 - 20/08/2010)

The Australian Dollar reached its highest level in 3 weeks against the British Pound earlier this week advancing to 0.5825 GBP per Aussie dollar. A decline in Briton’s core inflation softened the Pound against the NZD, Euro and USD. The Rightmove housing survey this week showed the second monthly decline in a row with prices dropping -1.7% following a -0.6% decrease in July indicates quite clearly that UK housing sector is seeing a material slowdown as growth sputters and demand wanes into the second half of the year. The Euro received some support following suggestions that China was redirecting some of massive foreign reserve flows towards European rather than US fixed income instruments.


The GBP soon took a handle on the situation levelling the gains made by the four currencies. Minutes from the bank of England revealed that the Bank Monetary Policy Committee voted 8-1 to keep rates steady at 50bp with only Andrew Sentence once again making a case for a 25bp hike arguing the UK economy is beginning to tone up. Although most of the committee members remained neutral, the majority stand ready to make a decisive move in either direction. UK retail sales came in higher than market expectations rising 1.1 per cent from the previous month for an annualised rate of 1.3 per cent pushing Sterling sharply higher towards 1.5670 USD.

Many thanks

Jon Sermon

Nice, hasn't the Aus$ fallen against the pound as a result of the Aus Elections though?

The AUD - UKP rates sucks at the moment.. I'd be rich if I went back to the UK tho LOl - I wish.

Originally Posted by Tim

The AUD - UKP rates sucks at the moment.. I'd be rich if I went back to the UK tho LOl - I wish.

If that's the case.... ;)

Do you mean if you xchanged your aud for ukp tim or do you mean if you were being paid in the uk what you get in oz?
Why would you want to come back here though...but thats a different question.

Yeah I wasn't quite sure about that either Tony.

The other question I could answer though ;) After awhile of living somewhere, a lot of people that live overseas realise that everywhere is the same once you actually have to live there.
It's like I tell my friends at home (when they think I live in some kind of sunny paradise),living here is nothing like a 2 week Florida holiday. When you're working, paying bills and doing a daily routine, it's the same as living in the UK, only hotter and more rushed. Life's life, you know what I mean? I s'pose it's a case of the grass always being greener on the other side of the fence.

Yeah Purp, but I bet you don't have people who don't have an ounce ofunderstanding of history or could recognise it if it bit their butt, going round telling people that want to leave here
"Oh but what about the History" or those who decide they want to come back becuase"They miss the history"
I don't have to live in the museum to buy one of their DVD's :)
I think living abroad is, as you say, the same as here. The only dioffence is that perhaps the prison is prettier LoL

LoL on the contrary T, we have plenty of people who don't have a gram of understanding of history, this is "planet america" remember?
The prison isn't any prettier in Florida than the South West of England believe me, for the most part its a flat scrubby wasteland with a decent proportion of redneck people, and then that nicely manicured bit with Mickey Mouse stuck right in the middle.
Now if I lived in Connecticut or somewhere nicer, I might just agree with you. ;)

PS The people here aren't that interested in history at all, unless it's something to do with the civil war, hunting or slavery. You could probably fit all the important history of Florida onto a small cd, and still have room for the BP oil spill promotional video ;)

hahahahahaha