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Wednesday, March 10, 2010
Strong Chinese Exports Cause Aussie Dollar to Soar
Yesterday’s price action in the currencies versus the dollar was a drag, man… We did, however, see the higher yielding currencies begin to move away from the pack of currencies led by the euro (EUR). That move higher by the likes of Australia (AUD), Brazil (BRL), South Africa (ZAR), and others, carried over through the overnight sessions, so, as we start today, they are stronger versus the dollar… In fact, the Aussie dollar is near a 7-week high this morning.
Another thing helping to boost the Aussie this morning was the news overnight that China reported that exports had increased the most in three years, last month… For those of you keeping score at home… That’s a 46% increase in exports during February for China! Now… I can hear some of the new readers saying, what in the world do China’s exports have to do with the Aussie dollar rising? Ahhh grasshopper, come sit…
You see, Australia is a raw materials (commodities) rich country, which supplies China with all the raw materials they need to build their infrastructure. When China slowed down, it caused a chain reaction to Australia… But… As we’ve seen in the past nine months, China was the first to come out of the economic slowdown, and this report confirms that they are hitting on all 8 cylinders right now… So, as the old saying goes… What’s good for the goose is good for the gander… And what’s good for China is good for Australia!
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Labels:
Aussie Dollar,
Yuan vs Dollar
Outlook for U.S. Stocks by Expert Trennert of Strategas
Strategas's Trennert Discusses Outlook for U.S. Stocks
March 10 (Bloomberg) -- Jason Trennert, managing partner at Strategas Research Partners, talks with Bloomberg Television about the oultook for the U.S. stock market. (This report is an excerpt of the full interview. Source: Bloomberg)Bob Chapman We are heading towards an Argentine Style Crisis
Bob Chapman : Citi Goldman and Morgan are longing the Dollar and Shorting the Gold
Silver is very heavy and bulky , so Bob Chapman advices 20% Silver and 80% Gold
Labels:
Argentina Style Crisis
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