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what happened on the AUD against the EURO this week?

Written by Sam Coxhead on April 27th, 2012.      0 comments

6:00 PM (NZT) The AUD saw a sharp move lower following the release of the inflation numbers than confirmed the RBA would be cutting the cash rate next week. Since the lows set not long after their release the AUD has seen grinding appreciation over the EURO.  Some higher stock markets have been in tandem with an S&P downgrade of Spain. These factors were always likely to give the AUD the upper hand. Next week has a distinct central bank focus. The RBA have their monetary policy decision on Tuesday and quarterly statement on Friday. The ECB have their decision on Thursday, and looks to be the more complicated of the two. Expect the wider recent range to remain in place.
 
The current interbank midrate is:                                               AUEUR  .7860                    EURAUD  1.2723                                                                                     
 
The interbank range so far this week to date has been:   AUDEUR .7786 – .7865   EURAUD 1.2715– 1.2843
 

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