The Aussie Hits a Record High
Market Brief
The spot light yesterday was on the Australian dollar as it hit a 24 year high. Investors it seems were much attracted to currencies whose economies are currently battling rising prices amid strong growth. This is presently the case of the major economies within the Pacific rim. Singapore announced a 17 year high price surge accelerating at a 6.7 per cent rate in March. Malaysia and Hong Kong also posted inpressive inflationary figures although dampened by domestic intervention through subsidies. But it was Austrialia's level that attracted investors' eye. The country's underlying annual inflation rate surged to 4 per cent. Her consumer price index also jumped to 4.2 per cent. This trend increased the likelihood that the Rerserve Bank of Australia (RSB) will in all probability lift its interest rates when it meets next month. This putative rise in rates, which currently stands at 7.25 per cent, comes in the the back of 17 years of uninterrupted growth. Analyst are clearly seeing the backdraft effect of such an impressive record. This being said, there are some who see a decline in consumer spending at the end of the year which should trigger a downward trend in rates. The Aussie in the meantime is enjoying a comfortable rise. It could very well level at parity with the US dollar if the kernel of economic power shifts from the US to the Pacific rim, with China and Australia as natural co-sperheads.
Yesterday the Australian dollar hit a high versus the US dollar at $.9541 before sliding a little.
The rise of peripheral currencies is also marginally affecting European countires. The Swedish Kronar, for instance, rose to a two month high against the dollar at SKr5.822 after its Central Bank decided to leave the interest rates on hold at 4.25 per cent. Growth prospective along with an accompanying inflation, that could very well slip moderaltely out of control, has investors interested in the currency.
The Euro's performance was lacksidaisical. After a weaker than expected survey of the manufacturing sector many analyst perceived a slight distancing by some ECB officials from their traditional hawkish tone. The euro fell 0.6 per cent against the dollar. This moderate upswing of the dollar also helped the greenback to gain grounds against the Yen and the Swiss franc.
Trichet's comments to begin at 12:30 GMT should help investors decide if the dollar will continue to enjoy its current upswing or if this is only slight disturbance in what is still, overall beleived to be, a consensual decline.
期货市场究竟是“提款机”还是“老虎机”！
-------环球期货网投资策略报告会
环球期货网携手新浪和国内知名期货公司就近日的热点推出免费投资策略报告会。让您了解期货市场究竟是“提款机”还是“老虎机”！为什么股指期货与黄金期货为我们提供了极佳的获利机会？为机构与个人客户提供全面的、高质量的、实用的、完整的系列金融培训课程，让杠杆效应带给您更强的交易能力，更多的获利机会，更全面地规避投资风险。
具体时间安排：
4月26日14:00 至 17:00讲座地址：杭州市庆春路149号-3杭州商业大厦；
4月27日14:00 至 17:00讲座地址：上海市卢湾区淮海中路795-809号金辰大酒店(近瑞金一路)。
咨询电话 021-63373773 63373235 63373967 梅小姐
