Aussie $ spikes on healthy data, despite the RBA 5/12/17

December 4, 2017

Finport Currency Brief - Courtesy of Compass Global Markets.

 

As forecast in earlier reports, the volatile price action has begun with a healthy spike in the A$ exchange rate across the board this morning.

News that the Current Account had shrunk and that Retail Sales had grown at a pace not seen since July sparked the push higher.

The Reserve Bank meeting has also just concluded and their statement saw interest rates on hold as expected, but with a warning shot that a higher A$ would slow the economy. This of course is their standard line and most market makers will ignore that and instead concentrate on the mostly better than expected prints of economic data.   

Focus turns to tomorrows domestic GDP numbers and then Friday's all important US Unemployment numbers, but looking slightly further down the track our outlook for the A$ is therefore unchanged and we see higher levels ahead with A$US$ 0.78c, A$EUR 0.66 and A$GBP 0.58 as pre-Christmas targets. 

 

Jim Devonport

E: jim.devonport@finport.com

M: 0415 066 468 

 

AUDUSD 

 

 

AUDEUR  

 

AUDGBP

 

Jim Devonport

Mob: 0415 066 468

Email: Jim.Devonport@Finport.com 

  

Please reload

Featured Posts

I'm busy working on my blog posts. Watch this space!

Please reload

Recent Posts

February 9, 2020

Please reload

Archive
Please reload

Search By Tags
Please reload

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square

Free Call: 1800 FINPORT (346767)   Email: info@finport.com

Finport Finance Pty Limited ACN 624 778 123.

Finport Trade Finance Pty Limited ACN 606 669 505.

 

Business Address: Suite 105, 20A Danks Street, Waterloo, NSW 2017

Registered Office: Level 11, 1 York Street, Sydney NSW 2000

Mailing Address: PO Box 2289, Taren Point NSW 2229

 

Finport makes no warranty, express or implied, concerning the suitability, completeness, quality or exactness of the information and models provided in this website.

Website Terms of Use     Disclaimer    Privacy Policy

  • Facebook Social Icon