Foreign Exchange research provides all the Commonwealth Bank's foreign exchange forecasts, research and strategy on foreign exchange rates and markets.
Chief Currency Strategist Currency Strategist Economist
Richard Grace Joseph Capurso Sara Hoenig
02 9312 4080 02 9312 0429 02 8223 7928
richard.grace@cba.com.au joseph.capurso@cba.com.au sara.hoenig@cba.com.au
10 October 2008 - AEST 8.30am - In the US, stocks gave up early gains with credit markets continuing to be the major concern - The Aussie dollar rose sharply throughout the European session before ending weaker - Crude oil prices eased again on Thursday - The concerns over a global slowdown continued to weigh on prices, with the front month contract hitting a 11 month low - China is expected to halt auto fuel imports for the second month in a row - The October Nymex crude quote fell by US$2.36 or 2.7pct to US$86.59 a barrel - Base metal prices rallied on the LME following a week of sharp falls. Zinc gained 4.7pct with Lead up 6.2pct - The price of gold reversed previous gains as investors opted for cash.
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