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The statement was negative Bro. High value currency hurting growth.
“The assumed high level of the exchange rate and a weak short-term outlook for building construction are expected to result in subdued growth outside of the mining sector in the near term,” the RBA said. “Growth in household spending moderated at the end of 2011 and partial indicators suggest that it remained soft in early 2012.”
I think of Australia as Asian because of their location although the people and their culture are more Western in heritage. Australia is going through a major housing downturn. Housing prices in Australia grew at an annual rate of nearly 6% for the last twenty years, which is double the rate of income growth. So a major cyclical downturn is occurring. Most of the growth in China for the last decade has been based on infrastructure and building, and, while they are still in a long term growth cycle, a pullback in housing prices is occurring. Some people say that China is due for a major political revolution, but that could be an exaggeration. The authorities have been able to contain and quell the minor uprisings which have occurred.
Why do you think the RBA would cut rates so aggressively?
I meant political infighting in china surrounding leadership change. Lot of chatter on weibo about it.
Oz?... I know nothing of Oz… Isn’t it about light skinned people burning under the sun
Hello Traders, with all the attention given to Aussie and Kiwi, the USD/CAD stealth rally may reverse with a stronger Canadian Ivey PMI at 10:00 AM ET. Forecasts call for a drop in the PMI from 63.5 to 62.6. However, a pop to the upside above 63.5 could trigger risk on party for CAD$
Trader, Gregory McLeod moderates the DailyFX Forum.
If you are a new user to the DailyFX Forum, or not sure where to get started, please go to: How To use the DailyFX Forum and Introduce Yourself! Section. I’ll introduce you to the community and point you in the right direction.
Please use the “Ask the expert” section to ask me trading questions or reply to me in this thread.
Webinar: Watch me Trade Live Tuesday, Wednesday, and Thursday at 5:30 ET/9:30 GMT inPip & Run Trading Room.
All is well in Canada. Consumers are spending, borrowing against their mortgages, living beyond their means, jobs are plenty, oil is high, Bank is raising rates due to the economic recovery. All is good. Oh, what's that? PMI prints well below forecast @ 52.2, GDP contracted Feb., Core Retail Sales prints below consensus, Trade balance prints well below consensus. All is well.
Hello Traders, with all the attention given to Aussie and Kiwi, the USD/CAD stealth rally may reverse with a stronger Canadian Ivey PMI at 10:00 AM ET. Forecasts call for a drop in the PMI from 63.5 to 62.6. However, a pop to the upside above 63.5 could trigger risk on party for CAD$
Did not that you where a contrarian trader Greg Do you think the daily trend will takes us back to 98 level??
All is well in Canada. Consumers are spending, borrowing against their mortgages, living beyond their means, jobs are plenty, oil is high, Bank is raising rates due to the economic recovery. All is good. Oh, what's that? PMI prints well below forecast @ 52.2, GDP contracted Feb., Core Retail Sales prints below consensus, Trade balance prints well below consensus. All is well.
Welcome to the forum Parker! Need to read up on my CAD economics but I thought that they where doing quite good.
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Originally Posted by Gregory McLeod
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Do you think the daily trend will takes us back to 98 level??
