Runway Construction Data Appreciation The Aussie. The appreciation of the Australian dollar continues on Wednesday following the release of data on building permits in September were better than expected. Currency that is often called Aussie gained against most major rivals ahead of China manufacturing data, which may be showing improvement and export prospects brighten kangaroo country.
"The number of building permits in Australia far exceeded expectations," said Khoon Goh, senior currency analyst at Australia & New Zealand Banking Group Ltd.. in Singapore. "The data indicate that the RBA rate cuts during the past year started to show results., And it has helped a bit Aussie." The number of permits granted to build or renovate houses and apartments rose by 7.8% last month from 8.8% in August, according to the Bureau of Statistics in Sydney. These results are much higher than the expected increase of 1% of the economists.
Recovery Optimism British Sterling
Pound extended the dominance of the greenback on Wednesday after a series of solid UK data reduce the possibility of further monetary easing and attracted a number of investors to collect Sterling. "Sterling looks more stable after the CBI trade survey supports the expectation that the UK economy has been on the recovery path," said Nawaz Ali, market strategist at Western Union Business Solutions.
UK data were better than expected as well have eroded the opportunities for further monetary easing from the Bank of England next month, although still remaining concerns over the pace of economic recovery. Images from the latest UK consumer confidence remains fragile highlights Britain's recovery from recession, as shown GfK NOP survey on Wednesday.
For further investors will be monitoring the release PMI manufacturing, construction and services in the next few days to obtain an indication of the health of the British economy in the 4th quarter.
"The number of building permits in Australia far exceeded expectations," said Khoon Goh, senior currency analyst at Australia & New Zealand Banking Group Ltd.. in Singapore. "The data indicate that the RBA rate cuts during the past year started to show results., And it has helped a bit Aussie." The number of permits granted to build or renovate houses and apartments rose by 7.8% last month from 8.8% in August, according to the Bureau of Statistics in Sydney. These results are much higher than the expected increase of 1% of the economists.
Recovery Optimism British Sterling
Pound extended the dominance of the greenback on Wednesday after a series of solid UK data reduce the possibility of further monetary easing and attracted a number of investors to collect Sterling. "Sterling looks more stable after the CBI trade survey supports the expectation that the UK economy has been on the recovery path," said Nawaz Ali, market strategist at Western Union Business Solutions.
UK data were better than expected as well have eroded the opportunities for further monetary easing from the Bank of England next month, although still remaining concerns over the pace of economic recovery. Images from the latest UK consumer confidence remains fragile highlights Britain's recovery from recession, as shown GfK NOP survey on Wednesday.
For further investors will be monitoring the release PMI manufacturing, construction and services in the next few days to obtain an indication of the health of the British economy in the 4th quarter.
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