Foreign exchange markets and equities have seen further volatility in overnight and morning trade following a spike in Spanish bond yields to 6.51%. While bond yields remain below the critical 7% mark which will make life even more difficult for Spanish banks it was the biggest gain in yields since January showing real investor skepticism of the bailout. Exchange rates have been knocked back to their pre-Spanish bailout levels with AUD/USD Continue reading
Tag Archives: equities
Exchange Rate Today – 8th June 2012
The Aussie exchange rate is today continuing a rally which began Monday afternoon and was helped along by strong GDP and an even stronger jobs number yesterday. The Aussie is up nearly three cents since Monday’s low. EUR/USD has performed equally well but that is no surprise given the two currency pairs are seen as risk trades and therefore closely correlated. EUR/USD is up nearly three cents since posting a low of 1.2288 on 1st June. Continue reading
Exchange Rate Today – 30th May 2012
Exchange rates today appear to be in a holding pattern as we await crucial Australian retail sales figures due at 11:30am. Economists are expecting a 0.2% increase in retail sales which would be well below the 0.9% posted the month previous. With recent moves by the RBA to cut interest rates, all eyes will be on this retail sales figure for any indication of whether the RBAs expansionary monetary policy is taking effect. The Aussie dollar is still well Continue reading