Tuesday brought a bout of fresh American dollar weakness. While the
dollar index - measuring its value against a basket of currencies of its
major trading partners - failed to touch a new low, it did look
decidedly weak against the Australian dollar as well as the Canadian
dollar. The commodity currencies were ignited by an unexpected
tightening in monetary policy at the Reserve Bank of Australia. Both
currencies rose to 13-month highs against the dollar.

We have encouraged readers of our Global Resources Alert to buy both of
these currencies since July. Both currencies came within an ace of their
respective targets in Tuesday's trading as investors accelerated a shift
away from the dollar and into currencies at resource-plentiful nations.

On Tuesday the Reserve Bank of Australia decided after a slew of strong
data depicting growth in retail store sales and jumping-bean like
consumer and investor confidence that it was about time to take away the
punch bowl. The RBA added one-quarter of a per cent to its baseline
rates having spent the summer beating its chest in recognition that its
economy was least affected by the ill-health suffered by the global
financial market.

The move proved to be a game-changer. The decision was seen by many as
revitalization of growth prospects. If the Australian economy was
recovering, then much of the praise or at the very least the
second-round effects lay with its major Pacific and Asian export markets.

Stocks around the globe rose making last week's losses appear to be the
proverbial storm in a tea cup. Shares of energy and commodity producing
companies gained most. Financial share prices also received a boost.

Yet the major winner on the day was the headline-grabbing gain in the
price of gold whose spot bullion price rose to a record. October gold
futures hit $1,044 per ounce intraday and reflected the fear element of
a weaker dollar brought on earlier in the day.

For anyone who missed that news, a British newspaper carried a story
that reported a conspiracy pact against the dollar by Persian and
emerging country envoys whose intention over the next nine years is to
cut out the dollar's influence altogether in the trading of crude oil.
Reliable or otherwise, the story served to cut the dollar loose and
provoked more and more investors to push its value lower in search of
windfall gains.

The biggest takeaway that we see from Tuesday's price action is that
investors are inspired by marginally positive news over global growth -
arguably Australia created the rally in the S&P 500 index. In addition
the market is clearly positive about dollar devaluation for whatever
reason. We're unsure whether this is due to the assumption that energy
or mining companies will earn more in the face of the combination of a
lower dollar and stronger commodity prices. Or whether the weaker dollar
is assumed to be a fastpass to economic recovery: Either way, markets
like it.




--
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P.S. ...le informazioni diffuse sulla borsa e
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tutto eccezione fatta per l\' essenziale....

"l'orsotoro®" <21488invalid@mynewsgate.net> ha scritto nel messaggio
news:2009100807484821488@mynewsgate.net...
> Tuesday brought a bout of fresh American dollar weakness. While the
> dollar index - measuring its value against a basket of currencies of its
> major trading partners - failed to touch a new low, it did look
> decidedly weak against the Australian dollar as well as the Canadian
> dollar. The commodity currencies were ignited by an unexpected
> tightening in monetary policy at the Reserve Bank of Australia. Both
> currencies rose to 13-month highs against the dollar.
> We have encouraged readers of our Global Resources Alert to buy both of
> these currencies since July. Both currencies came within an ace of their
> respective targets in Tuesday's trading as investors accelerated a shift
> away from the dollar and into currencies at resource-plentiful nations.
> On Tuesday the Reserve Bank of Australia decided after a slew of strong
> data depicting growth in retail store sales and jumping-bean like
> consumer and investor confidence that it was about time to take away the
> punch bowl. The RBA added one-quarter of a per cent to its baseline
> rates having spent the summer beating its chest in recognition that its
> economy was least affected by the ill-health suffered by the global
> financial market.
> The move proved to be a game-changer. The decision was seen by many as
> revitalization of growth prospects. If the Australian economy was
> recovering, then much of the praise or at the very least the
> second-round effects lay with its major Pacific and Asian export markets.
> Stocks around the globe rose making last week's losses appear to be the
> proverbial storm in a tea cup. Shares of energy and commodity producing
> companies gained most. Financial share prices also received a boost.
> Yet the major winner on the day was the headline-grabbing gain in the
> price of gold whose spot bullion price rose to a record. October gold
> futures hit $1,044 per ounce intraday and reflected the fear element of
> a weaker dollar brought on earlier in the day.
> For anyone who missed that news, a British newspaper carried a story
> that reported a conspiracy pact against the dollar by Persian and
> emerging country envoys whose intention over the next nine years is to
> cut out the dollar's influence altogether in the trading of crude oil.
> Reliable or otherwise, the story served to cut the dollar loose and
> provoked more and more investors to push its value lower in search of
> windfall gains.
> The biggest takeaway that we see from Tuesday's price action is that
> investors are inspired by marginally positive news over global growth -
> arguably Australia created the rally in the S&P 500 index. In addition
> the market is clearly positive about dollar devaluation for whatever
> reason. We're unsure whether this is due to the assumption that energy
> or mining companies will earn more in the face of the combination of a
> lower dollar and stronger commodity prices. Or whether the weaker dollar
> is assumed to be a fastpass to economic recovery: Either way, markets
> like it.
> --
> Sono cosi' lontani gli australiani che come il jappone fanno cosa a se

Jack Emerson <Jackemerson@london.uk> ha scritto:

> > Sono cosi' lontani gli australiani che come il jappone fanno cosa a se

Martedì fsp era a 1011......stamani è a 1066.....

E' il 5,4% in meno di due giorni.

Gli australiani sono davvero così lontani?!?....

Ma soprattutto le materie prime da dove partono?

E chi le deteniene in larga maggioranza?




--
Meglio fare invidia che compassione....
www.orsotoro.blogspot.com
P.S. ...le informazioni diffuse sulla borsa e
l\' economia in generale sono come il bikini: .. fanno vedere
tutto eccezione fatta per l\' essenziale....

"l'orsotoro®" <21488invalid@mynewsgate.net> ha scritto nel messaggio
news:2009100809401321488@mynewsgate.net...
> Jack Emerson <Jackemerson@london.uk> ha scritto:
>> > Sono cosi' lontani gli australiani che come il jappone fanno cosa a se
>> Martedì fsp era a 1011......stamani è a 1066.....
> E' il 5,4% in meno di due giorni.
> Gli australiani sono davvero così lontani?!?....
> Ma soprattutto le materie prime da dove partono?
> E chi le deteniene in larga maggioranza?
> --
> >Certo sono sempre nel Commonwealth quindi legami con tutti gli
> >anglosassoni ma hanno sempre avuto un'economia abbastanza sganciata e poi
> >pur avendo molte materie prime sono comunque 4 gatti........ma 4 gatti
> >benestanti....incidono relativamente sulle economie mondiali

Jack Emerson <Jackemerson@london.uk> ha scritto:

> > >Certo sono sempre nel Commonwealth quindi legami con tutti gli
> > >anglosassoni ma hanno sempre avuto un'economia abbastanza sganciata e poi
> > >pur avendo molte materie prime sono comunque 4 gatti........ma 4 gatti
> > >benestanti....incidono relativamente sulle economie mondiali


Vabbè...niente.

A presto...



--
Meglio fare invidia che compassione....
www.orsotoro.blogspot.com
P.S. ...le informazioni diffuse sulla borsa e
l\' economia in generale sono come il bikini: .. fanno vedere
tutto eccezione fatta per l\' essenziale....