Currency Exchange Update 12/11/09
Posted: Thursday, November 12, 2009
by Phil Bennetts
Foreign Exchange Explained
The Pound yesterday had a mixed bag of data and fell below the 1.11 on the Euro and 1.66 on the Dollar. The number of people unemployed in the UK rose slightly in the three months to September; however it was the smallest increase since May 2008. The jobless rate moved up to 7.8% from 7.7%, but the youth unemployment rate rose by a staggering19.8%. The number of people claiming unemployment benefit also rose by 12,900 to 1.64 million in October. Bank of England governor Mervyn King said yesterday The UK economy has "only just started" along its road to economic recovery.
The Australian Dollar Australia's economy unexpectedly created more jobs than in October, with more than 24,000 people finding new employment. It is the second monthly gain in a row and analysts speculating that interest rates could be increased in December from 3.5% to 3.75%.
Major data out today
AU Employment
AU Unemployment
FR Current Account
US Initial Claims
CA House Price Index
Phil Bennetts
Foreign Exchange Explained
http://www.foreign-exchange-advice.info
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