Down under in Australia, home-loan approvals fell in February for the fifth straight month following Governor Glenn Stevens continuous rate hikes along with the government decision cut grants top first time buyers. Waning demand for approvals adds to evidence that Governor Stevens’ decision to boost the benchmark interest rate five times in six meetings is cooling domestic demand.
Just last week (April 6th), the RBA increased Australia’s overnight cash rate target by a quarter percentage point to 4.25%, adding to similar moves in March, December, November and October amid a rebound in consumer and business confidence, plus surging house prices. The Australian dollar traded at 93.41 U.S. cents as of 12:17 p.m. in Sydney from 93.45 cents just before the report was released.
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Thread: AUDUSD Update 12.04.2010:
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12-04-2010, 09:51 AM #1
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AUDUSD Update 12.04.2010:
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20-04-2010, 08:49 AM #2
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Market Updates
Stocks fell on Friday, halting a six-day rally, after the Securities and Exchange Commission charged Goldman Sachs Group Inc. with fraud. The Standard & Poor’s 500 Index declined 1.6% to close at 1,192.13. As a result Friday saw the US Dollar climb against the Euro for the second day, the Dollar gained 0.50% to close at EUR 1.35011. In the forex online market the US Dollar also climbed against the Pound for the Second day in a row, appreciating 0.65% to close at GBP 1.53607.
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20-04-2010, 08:57 AM #3
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AUDUSD Update 19.04.2010:
The Aussie dropped 1.0% against the US Dollar on Friday to close at AUD$ 0.92403. In early trading today it continued to decline against the US Dollar touching a low of AUD$ 0.91516.
FX Guide-Aussies Ride to Parity Derailed by Yuan Revaluation
- Written by Noreen Burke
- Posted April 19, 2010 at 11:19 am
The Australian Dollar’s push to parity with the US Dollar is now at risk as policy makers signal they may slow the pace of interest-rate increases and China moves closer to revaluing the Yuan. After rallying 28% on the forex market in the past 12 months analysts are now predicting the currency may fall as much as 16% by the end of the year as higher borrowing costs curb economic growth.
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