The Australian dollar has risen more than half a US cent as the greenback fell on disappointing US retail sales numbers, dousing market expectations of an imminent US rate rise.At 0700 AEST on Friday, the local unit was trading at 75.18 US cents, up from 74.56 cents on Thursday.
now this is good news for those who were wondering what will happen to our market.
incidentally our own stock exchange company has had a good rise this day to about 48bucks. that was at about 12.30 I think.
so what does this mean. it means that the us fed will be cautious about an increase rate rise. Simple. the dow should strengthen till the next bit of economic advice.
all of these things would drive you nuts and we all love tom petrovski explaining it for us. volatile is the word, and although I am not a total fan of terry McCann the economist, he did say 2016 was the year of volatility.
I think less so to be honest. its all a game.,