- The
US Fed will announce its decision regarding tapering tomorrow morning at 6am
Sydney time and I would strongly urge all members of LTG GoldRock to be up and
watching and listening to the report and press conference that will follow. You
can do this via www.bloomberg.com/tv.
- The
Australian dollar has an overwhelming number of short traders banking on a
positive taper decision from the US Fed in December, however Bloomberg put out
a survey today saying that only 30% of their leading economists who they survey
each month believe the Fed will taper in December. I am with the 30% crowd but
if a taper is not the order of the day then expect a short squeeze on the
Aussie Dollar back higher.
- We
will give you some suggestions before Friday on how to maintain your positions
through the Xmas period if you are using the Order Sheets.
- The
Aussie Dollar has risen slightly today on the back of Glenn Stevens’s remarks
in Canberra. Stevens would prefer not to put interest rates down any further
and the following remarks spurred some buyers for the Aussie Dollar today. “Because inflation has been consistent
with the target, the board has been quite comfortable in easing policy by a
significant amount. The board has maintained an open mind about whether we may
need to lower interest rates further. At this point, however, there are few
serious claims that the cost of borrowing per se is holding back growth.”
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