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    Australian Dollar Outlook 07/12/2011

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    International Business Times AU
    Australian Dollar Outlook 07/12/2011 is published by the International Business Times ( http://au.ibtimes.com/forex ) and is provided by BellFX.

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    Australian Dollar Outlook 07/12/2011

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    International Business Times AU
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    Australian Dollar Outlook 07/12/2011 is published by the International Business Times ( http://au.ibtimes.com/forex ) and is provided by BellFX.

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    Australian Dollar Outlook 07/12/2011 is published by the International Business Times ( http://au.ibtimes.com/forex ) and is provided by BellFX.

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    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    31 views1 page

    Australian Dollar Outlook 07/12/2011

    Uploaded by

    International Business Times AU
    Australian Dollar Outlook 07/12/2011 is published by the International Business Times ( http://au.ibtimes.com/forex ) and is provided by BellFX.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 1

    FX DAILY REPORT

    TUESDAY JULY 12TH 2011

    Bell FX Currency Outlook


    The AUD is over half a cent lower this morning as debt contagion fears regarding Spain and Italy caused investors to sell out of riskier assets like the AUD.
    an attempt to appease the markets regarding the sovereign debt issues in the region, it seemed that it just fuelled concern that the problems will spread further to the core of Europe. This caused equity markets to fall sharply, not only in Europe, but the US as well. The DOW was down 1.2% and the S&P500 down 1.8%; the worst fall in almost a month. The start of the reporting season in the US saw Alcoa announce larger than expected profits; but the market wont be able to digest this result until tonights trading session as it was posted after markets close. In our local market today we have the release of the NAB business confidence and conditions. Recent results have shown that businesses are still struggling, and todays result isnt expected to be any different. Despite the RBA continuing to hold off increasing interest rates, businesses are finding it hard to gain any ground with the concerns over the global economic recovery weighing on sentiment. concerns regarding Italy & Spains debt position comes to the forefront of news. The new leader of the Spanish region of Castilla La Mancha has said that the budget deficit is twice as large as had previously been thought. This as well as rumours that the European Central Bank are seeing to increase the EUR1.5bio to cover Italys debt problems spooked the markets and saw the EUR/USD tumble below USD1.4000. Reports from the finance ministers meeting overnight also indicated the possibility that Greece may default; with the ministers indicating that they may look to private creditors to contribute to a new aid package for the country as the French-led debt restructure plan may collapse. Debt concerns are also coming out of the US, as the Congressional leaders are still debating how to solve the debt impasse prior to August 2. It seems that no one can agree on the split between taxation and entitlements.

    Australian Dollar / US Dollar

    1.10 1.00 0.90 0.80 0.70 0.60 Aug-06

    Australia: Although the meetings between the Euro-finance ministers are

    Aug-07

    Aug-08

    Aug-09

    Aug-10

    Aug-11

    Todays Forecast Range

    USD 1.0580 - 1.0690


    Currencies AUD / USD USD / JPY EUR / USD GBP / USD NZD / USD AUD Crosses AUD / JPY AUD / EUR AUD / GBP AUD / NZD AUD / CAD Australian Rates Official Cash 3 Month Bill 10 Year Bond Last 1.0660 80.32 1.4053 1.5911 0.8295 Last 85.64 0.7580 0.6696 1.2852 1.0326 Last 4.75 4.96 5.23 Last 0.25 0.246 2.919 Last 1553.28 95.19 340.62 Last 4582 12506 5929 22347 10070 0.246 3.030 - / + (%) +0.6 -1.0 -0.9 - / + (%) -1.6 -1.2 -1.0 -1.7 -0.7 4.98 5.23 Previous High 1.0788 80.83 1.4289 1.6056 0.8400 High 86.75 0.7607 0.6715 1.2872 1.0352 Previous Low 1.0631 80.11 1.3987 1.5883 0.8275 Low 85.29 0.7523 0.6669 1.2811 1.0293

    Majors: The EUR has fallen to a seven week low against the USD as

    Economic Calendar 12 JULY

    US Rates Aust NAB Business Conditions/Confidence Japan BOJ Target Rate US Trade Balance July US Fed Releases Minutes From June FOMC Meeting Fed Funds 3 Month Libor 10 Year Bond Commodities Gold (US$ / oz)

    Important Disclaimer This may affect your legal rights: This publication has been issued on the basis that it is only for the information and exclusive use of the particular person to whom it is provided by Bell Potter Securities Limited trading in the foreign exchange markets as Bell Foreign Exchange (ACN 004 845 710). As this publication is a private communication to clients, it is not intended for public circulation or for use by any third party, without the prior approval of Bell Foreign Exchange. The Information contained in this publication has been obtained from sources considered and believed to be both reliable and accurate, and no responsibility is accepted for any error or omission, that may have occurred, or for any opinion expressed. The Information is general in nature, and does not take into account, the particular investment objectives or financial situation of any potential reader. It does not constitute, and should not be relied on, as financial or investment advice, or recommendations (expressed or implied), and is not an invitation to take up securities or other financial products or services. No decision should be made on the basis of the information without seeking expert financial advice. Ranges in this publication are indicative ranges over the past 24 hours. Last is around 9.00am Sydney. Please speak with Bell Foreign Exchange if you require latest pricing and ranges. Sally Fisher Kimberly Limbert Rebecca Kelly Nick White 08 8224 2771 08 8224 2725 08 8224 2772 08 8224 2770 sfisher@bellfx.com.au klimbert@bellfx.com.au rkelly@bellfx.com.au nwhite@bellfx.com.au

    Oil (WTI) US$/bbl) CRB Index Equities ASX 200 Dow Jones FTSE Hang Seng Nikkei

    Bill Giffen Scott Hill Bronson Livingston Scott Fleming

    02 9255 7473 02 8243 3504 02 8243 3503 03 9235 1912

    bgiffen@bellfx.com.au shill@bellfx.com.au blivingston@bellfx.com.au sfleming@bellfx.com.au


    ABN 25 006 390 772 AFS LICENCE NO.243480

    BELL POTTER SECURITIES LIMITED

    GPO BOX 4718 MELBOURNE VIC 3001 AUSTRALIA

    TOLL FREE 1800 003 815 INFO@BELLPOTTER.COM.AU WWW.BELLPOTTER.COM.AU

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