Thread: OzForex Market Update (13/09/2010 - 17/09/2010)

Morning all,

I hope you find the summary of last weeks market information helpful.

The Australian Dollar opens marginally lower today against the greenback at 0.9370. The Aussie slipped back towards 0.9350 during yesterday’s local session after the Westpac/Melbourne Institute consumer sentiment index fell 5 points to 113.2 in September after two months of solid gains.

Pound Sterling opens higher today at 1.5619 as softer-than-expected economic data in the United States pushed the greenback lower against several currencies. The pound hit an overnight low of 1.5448 after UK claims for unemployment benefits rose by 2,300 as the economy braces itself for a series of austerity measures to reduce the budget deficit.

The Reserve Bank of New Zealand (RBNZ) has left interest rates on hold at 3 per cent. The kiwi is currently trading at 0.7280 against the greenback having initially moved down half-a-cent immediately following the announcement

Have a great day,

Regards

Jon Sermon
Alliance Manager

http://www.ozforex.com.au/