Thread: OzForex Market Update (04/10/2010 - 08/10/2010)

Good morning all,

I hope you all had a great weekend?

The Aussie has continued to maintain its edge on the Pound. reaching 0.6230 against the Sterling. Sub-par retail sales figures and capped interest rates in the land down under did little to slow it as it chugged on like the Little Train That Could. While unemployment remains stable the increase of 49,500 full time jobs blew away expectations of 20,300 providing traction to the Aussie and Kiwi which reached 0.4764 against the Pound.

Meanwhile the Euro spent most of the week capped at 0.8780 GBP as better than expected German data balance a drop in retail sale in the single currency region. ECB President Jean Claude Trichet offered only a standard defence regarding the recent strength of the currency, stating that excessive volatility in exchange rates has adverse implications blah blah blah......Unfortunately the US can’t seem to get a break holding onto 0.6300 Pounds ahead of tonight’s US unemployment figures.

Have a great day, and if you would like to see our Daily Market commentary, feel free to check out my Blog on the Brits Abroad forum too.

Beat Regards

Jon

Jon Sermon
Alliance Manager
http://www.ozforex.com.au/

Morning Jon, hope you had a good weekend too!

Thanks so much for posting the weekly update. I know a lot of our members find it very useful.

An interesting start to the week, and I always read it to see what's going on.

All the best

purps