AUD/USD @1.0400
Solid support off 1.0310-20 area had the bears scrambling.
The hopefuls once again think Europe will be ok and risk back on.
George Soros made a comment that UK will be worse the Spain but the only thing that is saving them is printing cash.
What a mess..
Locally all the newspapers are talking interest rate cuts on the bad inflation number.. and the bullish economist have gone back into their shells..
To be honest I think it needs 1 pct cut to have an impact on the economy as everyday we hear 2 speed economy and lately 3 speed.. Im guessing that speed is reverse.
Today we may flounder around 1.0325-1.0425 ...
Good luck
Solid support off 1.0310-20 area had the bears scrambling.
The hopefuls once again think Europe will be ok and risk back on.
George Soros made a comment that UK will be worse the Spain but the only thing that is saving them is printing cash.
What a mess..
Locally all the newspapers are talking interest rate cuts on the bad inflation number.. and the bullish economist have gone back into their shells..
To be honest I think it needs 1 pct cut to have an impact on the economy as everyday we hear 2 speed economy and lately 3 speed.. Im guessing that speed is reverse.
Today we may flounder around 1.0325-1.0425 ...
Good luck