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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 8936
Posted: Feb 22, 2010 5:00
Comments: 8936
Forum Topic:
Gold, Oil & Indices (Equity & Bond Indices)
Discuss Gold, Oil & Indices (Equity & Bond Indices)
The pound and the euro managed a partial rebound from losses suffered earlier in the session after warnings from ratings agencies about deteriorating credit quality in Europe prompted investors to seek refuge in the dollar and the yen.
Without significant data releases Tuesday, currency markets instead took their direction from broader shifts in investors' attitudes toward risk.
Nice blah blah, but why investors turned back to risk?
Maybe the Redbook Research's report on US Retail Sales in March? Not likely... Maybe the Fed Evans' notes about possible future asset purchases? Hmm hmm... Or maybe the BoC probable 25-bps rate hike at the July 20 meeting reported by TD Waterhouse. But according to my sources, there is nothing. So the unofficial RBA buying could be the cause... but... I don't read everything.
I have also just faxed a letter of appreciation to Stevens at the RBA for the gifts he has given.
Whe top in AUD will be hit within 24 hours, if not already at 0.9140