Hope you all had a great weekend and a great Labour Day.
Over the weekend the United States experienced an increase in retail sales. Good for the US, but unfavorable for the AUD and NZD. Hans Kunnen of St. George Bank Ltd. states that what happened in the US is definitely something above expectation but what is favorable for the US, has caused a decline for the Australian Dollar (Ishikawa, 2012).
Over the weekend, Australia’s dollar fell 0.3% to $1.0545 as of 11:21 a.m. in Sydney from $1.0576 on March 9, when it declined 0.6%. The Aussie fell 0.4% to 86.89 yen from 87.21.
New Zealand’s dollar dropped 0.4% to 81.78 U.S. cents, and 0.5% to 67.40 yen (Ishikawa, 2012).
On other reports, the British Pound declined as unemployment declines in the US. Reports state that US employers are adding more jobs than was forecasted last month (Goodman, 2012).
Amongst all these, the USD reached a 10-month high against the Yen as better-than-forecast payrolls damped Federal Reserve monetary stimulus speculation (Bennett, 2012).
To read the full reports, go to:
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