There's a risk the statement will be watered down. This will be negative for interest rates, the yield gap will narrow further, and the Australian dollar will go down.
More Quotes from Richard Grace:
Once a person gets drowsy behind the wheel, there's nothing you can do about it but stop and get rest. A nap and a cup of coffee can do wonders.Richard Grace
Markets may start pricing in some stronger data as there's a risk industrial production is better than expected. People will start buying the dollar ahead of it.
Richard Grace
The Chinese growth rate in the first quarter was stronger than expected. The resulting demand has pushed up commodity prices, which supports the Australian dollar.
Richard Grace
The U.S. dollar trend is going to rise through the end of the first quarter of 2006. Until it becomes clear the Fed is finished tightening rates, I don't think we will see a change in the trend.
Richard Grace
Commodity prices have fallen for two days in a row, with the falls including gold and base metals.
Richard Grace
The Australian dollar could head higher this week. The CPI will be on the strong side, so we might get some interest rate-expectations creep in.
Richard Grace
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