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Australian FX Update, 14 December 2012

Yesterday a number on Inflation Expectations for the Australian economy fell from 2.2% to 1.8% while the local New Motor Vehicle Sales for November came in at 0%, which was better than the previous revised number of –2.5%.
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Australian FX Update, 12 December 2012

For the Australian economy yesterday a Business Confidence number deteriorated substantially. It came in at –9 and was worse compared to the last reading of –1. The US Trade Balance overnight did not surprise while Wholesale Inventories increased by 0.6%, which was close to expectations.
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Australian FX Update, 11 December 2012

Yesterday New Zealand Manufacturing Sales for the third quarter improved 1.6%, which was a welcome turnaround from the last reading of –0.8%.
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Stock Markets Update, 10 December 2012

A Manufacturing Index from China on Monday provided some optimism for most markets. The local stock market though in China was uninspired and closed in the red on the first day of the week.
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Australian FX Update, 10 December 2012

The final day of the week saw the EUR lose ground against most currencies while the AUD remained relatively stable against most of its peers. The Fiscal Cliff remains the fad for now with some keeping the story going as other news are not making the headlines. The politicians in the US realise that they need a solution for the good of their economy and this will be the telling factor for an agreement to be reached.
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Australian FX Update, 7 December 2012

Numbers on the local economy yesterday surprised on the positive side. The Unemployment Rate decreased by two tenths of a percent to 5.2% and the Employment Change number confirmed an additional 13.9K jobs.
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Australian FX Update, 6 December 2012

The GDP number for Australia yesterday came in at 0.5% and fell short of estimates by one tenth of a percent. A Services Index for the domestic economy remained in the negative range although it did improve to 47.1 from 42.8.
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Australian FX Update, 5 December 2012

Yesterday the RBA decreased the official rate as expected to 3%. This did not have a negative impact on the AUD versus the USD and in fact after the decision, the AUD strengthened to the highest point for the week. The main reason the local currency did not lose value was because the rate decrease was taken as a given before the announcement.
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Australian FX Update, 4 December 2012

A Manufacturing Index yesterday for Australia confirmed further contractionary conditions. The figure deteriorated to 43.6 from 45.2 while the local Retail Sales number came in at 0%, failing to reach forecasts of 0.4%.  Job Advertisements, also for the Australian economy decreased last month by –2.9%, which was an improvement against the previous –4.6%.
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Australian FX Update, 3 December 2012

China is becoming a worry although their statistics do not warrant this. Stability is the key and if this can be established over the medium term then the AUD will enjoy further strength against the USD.
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