If the USD index breaks below decent support at the 94 level, I would think the Aussie will at least hold its own against the USD for a while. There hasn't been any dramatic improvement in the Australian macro data to support the rise. It's all the US
It is more to do with the iron ore price rally. It has now surged to $60 a ton and our dollar has moved up with that. Some trend setters in the media are calling the Aussie Dollar the "Iron Dollar"with the theory being as iron ore rises so will the $. .
To the moon please. I am trying to cut my ties with Oz, this will make selling up and transferring to HKD much easier.
From my perspective I don't really care who's the prime mover, as long as that graph keeps moving upwards.
So does that mean the price of silver is going to drop further? I was under the impression that the only reason silver was doing so well in AU$ was because the Aussie Dollar was low compared to the US$ (which is the currency that silver is sold in internationally)
What do you measure that against? I thought that the only relative measure of the US dollar was pretty much the price of gold. Is there a yardstick to determine the relative price of the USD?
There's a couple of indexes that measure the USD against a basket of other currencies. http://en.wikipedia.org/wiki/Dow_Jones_FXCM_Dollar_Index http://en.wikipedia.org/wiki/U.S._Dollar_Index http://en.wikipedia.org/wiki/Trade-weighted_US_dollar_index
aud is going to drop in next rba meeting.. from 0.8xx to 0.7xx or interest rate is going to drop.. this is the sign for it.
could be... and force glenn stevens to drop the rate again... (Yay!!!) our rate is not low enough yet.. in comparison to the other country..
I hope so I have a heap of coins I need to get graded at pcgs and it cost over 20% more to do it now that last year