The
Aussie Dollar sank again the moment the latest US Retail Sales data was
released that showed Americans spent more in the month of November than in the
5 preceding months. Two days in a row the Dow Jones has closed down over 100
points and this is a genuine sign traders on Wall Street are starting to sell
stocks to lock in profits they have made in 2013 ahead of the higher likelihood
of the US Fed tapering its stimulus program which is likely to drive stocks
initially lower.
The
Retail Sales data was up 0.7% on the same time a year ago and as I have
continued to advise you in this report any positive high impacting news for the
USA prior to the Fed tapering is likely to push the Aussie Dollar to new lows
against any currency with the potential of a rising interest rate. The Aussie
Dollar accelerated overnight to new lows against the US Dollar, Kiwi Dollar and
British Pound which are all countries with the potential for higher interest
rates in 2014.
LTG GoldRock Reviews the most relevant Forex News each day.
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