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Posted December 3rd, 2015 by Charles Purdy

Great GDP figures for Australia – but does this tell the whole story?

Australia fared well yesterday, when early morning Gross Domestic Product (GDP) figures were posted at 0.2% above growth expectation. However, the reality isn’t as positive; data showed that domestic demand has actually contracted by 0.5% in the same period. Overall, the results are a success, considering the Australian dollar dropped 9% during the same period. The rise in GDP can be attributed to a huge surge in exports, an indirect correlation with the weakening of their dollar

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Posted November 12th, 2015 by Charles Purdy

Tough times for the Canadian dollar, better times for the Australian dollar

It was a tough day for the Canadian economy yesterday as the Canadian economy fell against most currencies, including a 0.5% drop against sterling. Canadian stocks have fallen for a sixth day in a row, the worst performance since August. Just as it was in August, the fall can be attributed to weak industrial data in China. However, increasing stockpiles of commodities in the US has also lessened the value of Canadian commodities and by extension, their currency. Today the new house pricing index is out at 1.30pm and is expected to be worse than last month’s – any surprises could provide a little support for the Canadian currency.

The Australian dollar has gained nearly three cents against sterling first thing this morning as the Australian unemployment rate fell to 5.9% reducing expectations of an imminent cut in their interest rate.

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Posted November 5th, 2015 by Charles Purdy

Australian dollar strengthening

After an ‘All Black’ Saturday for the Australians, they bounced back, at least economically, on Wednesday as their dollar strengthened against most major currencies yesterday. Positive data from the Retail sales and Trade balance in the early hours of the morning instigated a burst of dollar strength until about 3am when it began to slacken off.

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Posted October 29th, 2015 by Charles Purdy

Stormy forecast Down Under

It was a dismal day for the Australian economy yesterday as the Australian dollar fell most other major currencies. Inflation data fell 0.2% below expectation, and investors will have an eye on the release of their import prices this morning. Environmental factors could have a significant effect Australia’s prosperity in the near future, as the country is preparing for the worst El Nino in 18 years. It is believed that the dry weather could slow Australia to its slowest growth in 24 years.

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Posted September 28th, 2015 by Charles Purdy

Chinese yuan and Australian dollar both on the up

There will be two major economic indicators released from Australia next week – after the currency gained almost half a percent on both the dollar and sterling on Friday, investors will be hoping that the results of these will be above expectations once again.

Much like the Australian dollar, the Chinese yuan also rose against sterling and the US dollar on Friday and there is hope that this will be the start of a much needed recovery. Thursday is the busiest day for China this week, with the release of both the Manufacturing and the Caixin Final Purchasing Managers’ Index (PMI). Both fell short of predictions last time around, so they will be needing better results to help bolster the yuan’s recovery

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Posted August 27th, 2015 by Charles Purdy

The Australian dollar enjoyed a relatively good day

The Australian dollar enjoyed a relatively good day yesterday, gaining against most currencies – except a strong US dollar.

Yesterday morning we saw excellent construction work data our of Australia, achieving 3% above expected. This coupled with positivity coming from the Governor of the Reserve Bank of Australia’s speech helped strengthen the currency. Private Capital expenditure data released this morning was came out much lower than expected showing a sharp drop to -4% whilst last month’s figure was also revived down to -4.7%.

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Posted August 13th, 2015 by Charles Purdy

Australian dollar bounces back

Yesterday was a good day down under as the Australian dollar regained a lot of lost ground from the day before. The dollar took a hit in line with the Chinese yuan as the Chinese government consciously weakened the yuan on Tuesday. Sterling hit 2.15 against the Australian dollar early in the morning, a rate that could only be matched once in the last 6 years! However, steady Australian data in terms of consumer sentiment and the wage price index contributed to the dollar ending the day 0.6% better off. Quite a remarkable turnaround.

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Posted July 20th, 2015 by Charles Purdy

Can the Australian dollar turn its fortunes around?

The Australians will be hoping for a change in form this week, after the Australian dollar reached eight-year lows throughout last week. There is hope for positive news from the Consumer Price Index (CPI) data to be released on Wednesday, which is predicted to be 0.6% better than last month. However, it is possible that a turnaround in the Chinese economy may well be required before we notice any significant change in direction for the Australian dollar.

Will Chinas growth return?

Although the Chinese economy is growing, there is some disquiet because Fridays Flash Manufacturing Purchasing Managers Indices for July, although expected to be better than last month, is still expected to be in negative territory, which is indicative of an economy struggling.

Some growth for Canada?

Today sees the release of Canadian Wholesale Sales Data, which is expected to show limited growth. More encouraging than this is the prediction that Thursday’s core Retail Sales Data will be positive this month, after coming out negative last month, and this may improve the currency’s position.

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Posted July 20th, 2015 by Charles Purdy

Can the Australian dollar turn its fortunes around?

The Australians will be hoping for a change in form this week, after the Australian dollar reached eight-year lows throughout last week. There is hope for positive news from the Consumer Price Index (CPI) data to be released on Wednesday, which is predicted to be 0.6% better than last month. However, it is possible that a turnaround in the Chinese economy may well be required before we notice any significant change in direction for the Australian dollar.

Will Chinas growth return?

Although the Chinese economy is growing, there is some disquiet because Fridays Flash Manufacturing Purchasing Managers Indices for July, although expected to be better than last month, is still expected to be in negative territory, which is indicative of an economy struggling.

Some growth for Canada?

Today sees the release of Canadian Wholesale Sales Data, which is expected to show limited growth. More encouraging than this is the prediction that Thursday’s core Retail Sales Data will be positive this month, after coming out negative last month, and this may improve the currency’s position.

Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

Posted July 16th, 2015 by Charles Purdy

New low for the Australian dollar

Wednesday was a bad day for the Australian dollar, as it hit six year lows against sterling – despite good data being released in the morning. There is little data expected for the rest of this week, but next week should be pivotal – so we expect that, like the country’s cricket team, the Australian dollar will be hoping for better in their next test…

Sinking Canadian dollar

During an equally difficult day for the Canadian dollar, it sank to another low against sterling. A poor result from the overnight rate, coupled with continuing sterling strength, resulted in the Canadian dollar hitting the lowest rate against the British currency for almost seven years!

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