Wednesday, January 09, 2008

Strong Aussie Retail Sales

Keep an eye on that Aussie $ - let's see if it can break through the 0.89 mark.

From Chuck Butler in today's Daily Pfennig:
And on that note... Australian Retail Sales gained for a 6th month in November, advancing .8% from October. I'm telling you now, so you can hear me later... The Reserve Bank of Australia (RBA) will be raising rates this quarter... And think of what that might do to a currency that already enjoys a big rate differential to the U.S. dollar, while the U.S. dollar's rate goes lower, and lower, and lower...

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