NZD
The New Zealand Dollar has edged higher against the Euro since yesterdays market activity. The feeling accross the world markets moved positive when the IMF attempted to increase its lending capacity. On top of this, improved US statstics and some additional progress with the Greek economy, including discussions regarding the dent write-down plans.
Improving consumer sentiment pushed the AUD slightly upwards with so
me trading support over the course of the market day yesterday. The AUD managed to improve on confidentend trading to move above 1.0400 due to improved feeling in the Euro zone Europe and US trading markets. It should be noted here that impresively the AUD reached a 27 year high against the GBP. The decline in the GBP was not surprising as the UK’s economy continues to struggle to recover from and avoid another Financial Crisis. However, the Australian economic outlook is improving and pushing ahead helped by continuing growth in trade ties with China.
GBP
Employment statistics released in London yesterday showed a rise to a worrying 16 year high in November. Economists are today forecasting a further expected rise in the unemployment rate to 8.3% for December 2011. The GBP which has recently experienced heavy sell offs against the USD gave up no ground on the employment release, managing to stay above 1.5330. It did however drop to 1.1980 against the EUR and 1.4745 against the AUD.
EUR
The EUR improved somewhat during overnight trading sessions, first rising above above 1.2800 against the USD when the IMF announced its expansion of lending facility by an additional $500 billion. Meanwhile in Greece, the finance ministry announced that a new deal could soon be reached with private bond-holders by the start of next week, thereby easing significant pressure on the Greek economic reform.
