HiFX Updates

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HiFX Updates; Posted on behalf of Nick Brain at HiFX
Topic Started: Dec 3 2008, 04:09 AM (176 Views)
PC Pom	Dec 3 2008, 04:09 AM Post #1
Anyone for tennis? Posts: 672 Group: Admin Member #1 Joined: March 23, 2006	The Australian Dollar found some comparative stability during November as recent declines in the Aussie’s buying power began to level out. Following a near 40% move in the previous 3 months, support was found above the $0.60 level despite concerns over the health of the Australian economy resulting from the global slowdown and weakening commodity prices. The RBA has cut it’s economic forecasts for 2009/10 fearing a contracting economy, although it remains mindful of the inflationary effects of a weaker Aussie dollar. A slumping demand for commodities is expected to have potentially severe implications for Aussie mining firms with subsequent job losses amongst the reverberations. In New Zealand the Kiwi dollar failed to derive much support from better than expected trade balance and business confidence figures, continuing it’s slump against the major currencies. Following world–wide interest rate cuts and softening inflation, the RBA & RBNZ continue to face heavy pressure to take similar measures.
	Koala Konnection UK to Australia and New Zealand. Migration Made Easy.


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