Historical relationships have shown that the Australian dollar should be trading around 85 cents to 90 cents, given the recent sharp rise in gold. It does provide the case for the Australian dollar to play some catch up, particularly if the Fed rate-hike momentum loses favor with investors.
More Quotes from Prashant Newnaha:
The amount of supply will put some upward bias on yields and keep bonds in a negative momentum. The market is comfortable with expectations for two more rate hikes, so supply can be a concern going forward.Prashant Newnaha
Readers Who Like This Quotation Also Like:
Based on Topics: Gold QuotesBased on Keywords: rate-hike
As for my country, I don't live there, but obviously I'm very proud to be Canadian.
Mike Weir
The first forty years of life give us the text; the next thirty supply the commentary on it.
Arthur Schopenhauer
My success was not based so much on any great intelligence but on great common sense.
Helen Gurley Brown