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    1. #1

      Title
      Foreign Exchange
      Join Date
      Apr 2010
      Location
      Sydney, London, Toronto
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      OzForex is on a distinguished road

      OzForex Market Update (25/10/10 - 29/10/10)

      Good morning all,

      I hope you had a great weekend?

      The Australian had a positive start to the week rising above 0.6300 against the British Pound. The Aussie rose to 0.6340 against the Pound after the British Bankers Association revealed more Britons struggled for mortgages than expected. The September figures showed the lowest net mortgage lending period in almost ten years. Australian producer prices increased at a faster pace than expected, jumping to 1.3% from the previous quarter’s 0.3%, raising expectations for a rate hike by the Australian Reserve Bank next week. The New Zealand Dollar rode the wave of positive investor sentiment breaking 0.4800 against the Sterling.

      Unexpectedly high preliminary GDP data from the UK saw the Pound body slam its opponents, with the Euro toppling from 0.8881 to 0.8726 against the Pound. The Euro has remained around this level for the remainder of the week. The preliminary GDP figures for the UK printed 0.8%, doubling market expectations of 0.4%. This could not have come at a worse time for the Aussie whose inflation figures missed estimates reducing the likelihood of an interest rate increase next month. The Australian Dollar fell to as low as 0.6118 against the Pound where it has found some support. Meanwhile the Kiwi has been unable to lift itself off the 0.4730 mark versus the British Pound.

      Should you have any questions, please feel free to contact me directly.


      Have a great week.

      Regards

      Jon

      Jon Sermon
      Alliance Manager
      http://www.ozforex.com.au/
      Last edited by purple; 02-11-2010 at 04:14 PM.
      !

    2. Moneycorp - Commercial foreign exchange since 1979
    3. #2

      Title
      Aldo is a Dil
      Join Date
      Jun 2008
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      thearmchairdetective is on a distinguished road
      Excellent, keep em coming Jon





      www.worldofglasscraft.com
      Last edited by purple; 02-11-2010 at 04:17 PM.

    4. #3

      Title
      Senior Member
      Join Date
      Feb 2009
      Location
      Florida
      Posts
      851
      Liked
      169 times
      Rep
      purple is on a distinguished road
      Good one, Jon!
      The weekly update always makes good reading.
      If everyone demanded peace instead of another television set, then there'd be peace. - John Lennon 1940 - 1980