DirectFX-phone-number-and-phone-image3.gif

p_7_top.jpg

Get a free Quote

Name
Email
Phone
From CCY
To CCY
Amount
Message
please type the characters you see:
(spam filter)
spam control image
 
p_1_top.gif

Apply now

Obligation free account and currency commentary btn_apply_for.gif
p_1_bottom.gif
Browse By Topic

FX News

Most recent FX News:

Read more

Australian Retail Sales add to the AUD woes.

Written by Sam Coxhead on August 3rd, 2011.      0 comments

11:56 AM (AEST) The just released Australian Retail Sales numbers show a -.1% decline in activity for the month against an expectation of a .4% rise. This has seen another round of exiting of bought AUD positions in an increasingly gloomy outlook for the domestic economy in Australia.
 
The Trade Balance was also less than expected by around 200million, at around 2billion, which is still a healthy number. These numbers outline the RBA concerns about the two tiered nature of the Australian economy.
 
In offshore trade the global risk aversion has increased once again, being driven by again increasing concerns about the European debt situation and the banking sector fragility. Spain and Italy have been the focus in the last 24hours as the cost of funding for the two nations increase substantially. This has impacted both the AUD and NZD negatively on most cross rates.
 
The Swiss franc and Japanese YEN remain in demand, and the US dollar has seen a resurgence as the debt ceiling agreement was made law and the focus returned to Europe.
 
The AUD has dropped again against the NZD after the retail sales number and now the target will be .8080 NZD/AUD (1.2376 AUD/NZD). With NZ employment numbers tomorrow , expect the volatility to remain in place, especially if the debt fears intensify in Europe.
 
          Past 24 hours
  Current level Pre-AU Retail Sales  % Chge AU Retail Sales   Low High
NZD/USD 0.8605 0.8627 -0.26%   0.8597 0.8785
AUD/USD 1.0691 1.0740 -0.46%   1.0679 1.1009
NZD/AUD 0.8050 0.8034 0.20%   0.7973 0.8062
AUD/NZD 1.2422 1.2447 -0.20%   1.2404 1.2542
NZD/GBP 0.5291 0.5309 -0.34%   0.5290 0.5379
NZD/EUR 0.6073 0.6083 -0.16%   0.6067 0.6167
NZD/YEN 66.46 66.64 -0.27%   66.39 68.13
NZD/CAD 0.8281 0.8297 -0.19%   0.8274 0.8391
 
 

Comments