John From Moneycorp Posted October 2, 2012 Report Share Posted October 2, 2012 The Australian dollar accompanied the Canadian dollar, the Swiss franc, the euro and the pound at the bottom of the week's uninspiring league table. There was nothing to choose between them. It was not that the Aussie did anything particularly wrong. There were almost no Australian economic data to handicap it. The one that that did appear showed a 4.1% increase in private sector lending, not enormous but suitably positive. The Aussie's problem was - and is - a belief that interest rates are heading lower because economic growth is slowing. From the Reserve Bank of Australia's policy meeting this month investors expect to receive a signal that lower rates are on the way. Even though the current 3.5% benchmark rate is the highest among major currencies, the likelihood of it falling is a turn-off for investors. Overnight, the Reserve Bank of Australia (RBA) has cut its official interest rate to 3.25%, the lowest level in three years. Following this annoucement, the Australian dollar has weakened against the pound. Quote Link to comment Share on other sites More sharing options...
Levi Posted October 2, 2012 Report Share Posted October 2, 2012 Thanks for the post. Quote Link to comment Share on other sites More sharing options...
John From Moneycorp Posted October 3, 2012 Author Report Share Posted October 3, 2012 The Australian dollar is still under pressure following their trade balance figures being released – Australia returned a A$2.03 billion deficit in August, its worst performance since March 2008 and this was much worse than forecast. Following the recent interest rate cut, it has not been a good week for the Aussie. Quote Link to comment Share on other sites More sharing options...
StraighttothePoint Posted October 3, 2012 Report Share Posted October 3, 2012 Historically WA has been a boom and bust economy. True or false? If true is it only a matter of time before the big dipper ride or do we continue to believe the pollies who tell us that everything is rosy in the garden and to come on down? Quote Link to comment Share on other sites More sharing options...
Levi Posted October 4, 2012 Report Share Posted October 4, 2012 I too sense a big dipper ride just around the corner, and a world wide one. Just a feeling. I'm 26 and even I know not to believe anything pollies say. The only person looking out for you is, well, you. Quote Link to comment Share on other sites More sharing options...
Walkeroos Posted October 4, 2012 Report Share Posted October 4, 2012 I too sense a big dipper ride just around the corner, and a world wide one. Just a feeling.I'm 26 and even I know not to believe anything pollies say. The only person looking out for you is, well, you. A world wide one????? surely the one i have been living through the last 3 years is world wide enough lol Quote Link to comment Share on other sites More sharing options...
Guest farang Posted October 5, 2012 Report Share Posted October 5, 2012 ye i would say the same, world recession for last 4 years since 08 and not really recovered. It will pickup after Feb. Quote Link to comment Share on other sites More sharing options...
Levi Posted October 10, 2012 Report Share Posted October 10, 2012 @ Walkeroos: Yep. lol & l Quote Link to comment Share on other sites More sharing options...
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