Daily Archives: March 6, 2012
This week was always going to throw up some movement on rates with so much data out across all currencies. Yesterday kicked things off nicely and the prospect of an Australian rate cut helped weaken the Aussie and Kiwi to levels not seen since January. Some welcome respite for those losing sleep looking at current AUD and NZD rates!
For me the fundamental issues driving both exchange rates remain and I cannot see any further major improvements on either exchange rate soon
Even with the news that growth in China is starting to slow and signs the pound is starting to find some support I cannot see major upward movements. I think the pound will hold its own (which may also protect major further losses for sellers) and we won’t see any major downward revisions in current levels. I think therefore that current levels are very attractive and well worth taking advantage of.
What you should be aware of this week if considering any AUD or NZD trades
If you are looking for that little extra then as Daniel pointed out there is a very busy week ahead. Tomorrow we have Australian GDP and the New Zealand Interest rate decision, followed by Australian Unemployment data Thursday. Thursday also sees the UK and Eurozone interest rate decisions which could dictate some risk appetite on the markets. With no clear direction on rates being established the gamble is doing nothing, we can assist your decision making process with our specialist service which has saved many clients thousands of pounds and dollars in their currency transfers.
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