Money in Motion

Aussie Lifts, European Interest Rates Hold Steady


The European Central Bank stands pat and Australians get to work - it's time for your FX Fix.

The European Central Bank left interest rates unchanged, dashing hopes for a cut, but the euro held steady. [Reuters] 

Surprisingly strong Australian GDP lifted the Australian dollar, and the New Zealand dollar followed. [CNBC]

A better than expected Australian GDP report boosted risk appetite, and investors covered some euro short positions. [CNBC]

Spanish industrial output declined further, and the country made its most explicit suggestion yet that it would seek help from Europe for its ailing banks. [WSJ]

The Canadian dollar continued to strengthen after the Bank of Canada left interest rates unchanged, as expected, but reaffirmed a hawkish tone in its economic outlook. [WSJ]



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