The exchange rate against the Euro decreased by 0.81 Euro cents (-1.3%) to close at 59.44 Euro cents on Thursday night. When looked at in other currencies, the AWEX EMI decreased by 4¢ in US terms and by 7¢ in Euro terms when compared with the previous sale.
The changes in the EMI in US and Euro currencies since mid October are now 160¢ US (28.9%) and 98 Euro cents (22.2%).
In a three day sale in Sydney and Melbourne, the AWEX EMI fell by 1¢ on Tuesday, by 1¢ on Wednesday and rose by 3¢ on Thursday. The Western Indicator dropped by 3¢ on Wednesday and rose by 5¢ on Thursday.
The market held up well in another week of a large offering and finishing on a firm note, before moving to smaller quantities over the next few weeks. Fine Merino wool eased early in the week before recovering some of their losses yesterday, while 19 to 24 micron Merino wools all finished up for the week.
Skirtings types were again generally up or firm. Oddments were again in keen demand, apart from an easing in the South yesterday. Among the crossbreds, all micron ranges eased other than 28 micron wool. The competition was led by buyers for China.
Sales will be held in Sydney, Melbourne and Fremantle next week in a two day sale for all centres, when 49,557 bales are currently rostered for sale. Current estimates for the following three weeks are expected to fall back, ranging between 54,100 and 56,400, a decrease of 13.4% over the same period last year.
In South Africa, the Cape Wools Indicator rose by 1.8% against a 1.8% depreciation of the US$ exchange rate and a 2.2% depreciation of the Euro exchange rate.
Australian Wool Innovation
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
