22-02-2009
Australian dollar, big buying opportunity
| Markets have recently traded currencies based on relative interest rates. On Friday Australian monetary authorites have hinted at a stabilizaton in interest rates. Market is discounting at least another one point drop in official discount rate. Possible change in perception should give Australian dollar a great boost. This should hold true particularly against Euro: while Australia has anticipated a drop in business cycle, ECB is widely believed to be way behind the curve. The combined effecy should be very positive for the Aussie. |