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Aussie trades higher at noon |
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Aussie was lower at noon Wednesday after worse-than-expected retail trade figures doused currency dealers' hopes for another interest rate rise in December.
At 12.00pm AEDT, the Australian dollar was trading at $0.9010/13, down from yesterday's close of $0.9031/34.
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From 7.00am AEDT, the unit traded between $0.9048 and $0.8979.
Tuesday, the RBA raised the cash interest rate by 25 basis points to 3.5 per cent. It was the Bank's second rate rise in as many months.
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| FOREX Reports |
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Outlook : Major currencies vs dollar |
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Fall below 1.3640, though a bearish sign, still holds hope for a rise towards 1.3855or even higher. Crucial support is at 1.3530 and as long as this level remains undisturbed, we favor a rise again towards 1.3800 or even higher. Fall below 1.3520 will force us to abandon our bullish view. |
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US automakers against Yen, Won depreciation |
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.S. automakers urged Congress to challenge Japan and South Korea on the issue of currency devaluation, which influences export prices. South Korea has recently made moves to depreciate the value of the won, while Japanese officials said they were prepared to keep the yen from appreciating |
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Asian currencies fall vs dollar |
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South Korea’s won and the Taiwan dollar dropped Thursday on speculation central banks will seek to limit appreciation that may hurt exports. |
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| Technical Calls |
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Gold Bullion or Gold Stocks: Which is best to invest? |
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Global equity markets have changed over the last three years, investor capacities and capabilities have changed as have interest rate patterns. This makes it incumbent upon investors to re-examine this question from the ground up. |
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Post-panic gold-stock recovery isn’t over yet! |
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stock panics are exceedingly-rare events, 2008’s was the first true panic since 1907 just over a century earlier. While extremely challenging psychologically, it was ultimately nothing more than a short-lived anomaly. Yet tragically, I suspect the ma |
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Gold’s bull run to boost as money flow out of bond |
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For Gold watchers, now is the time to start watching the relationship between Gold and bonds. According to Wikipedia, the worldwide bond market is $82 trillion and the US bond market is $34 trillion. Clearly, the crowded trade is bonds. Gold’s bull m |
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Corn ended lower Friday on a stronger dollar, but still posted gains for the week. The market gave back some of its recent gains as it ran into technical resistance. The dollar was the main factor, traders said. |
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U.S wheat futures finished lower Friday on pressure from gains in the U.S. dollar and bearishness about large supplies, traders say. The rising greenback weighed on the grains for the second consecutive day. |
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Soybean futures settled higher Friday, managing to carve out modest gains on the end-of-the-day position evening. |
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