Today was a good day for a lot of markets… The Nikkei up 14% (A record)… The Australian dollar going up just over 70 cents… The Australian market went up by nearly 5% in the last couple of days, good news for the Australian market and hopefully it will continue to rise.
Why is it going back up?
The boost seems to be effected by governments guaranteeing loans and deposits… Well phew… Now that loans are guaranteed people feel comfortable loaning again… Looks like it could be the opposite now, a good time to invest while the dollar and market returns to real value..
Predictions for the Australian Dollar…
As i mentioned in previous posts the Australian dollar is highly reliant to current interest rates. Because of this the Australian dollar should hopefully return to the value before the interest rise and similar to the current rate. That amount is around 84 to 85 US cents. How long it will take to do this or whether the market continues to rise we will soon see…
Yesterday AUD start value
Monday 1 AUD = 65.5 US cents
Tuesday Present time 1 AUD = 70 US cents
1 day rise of 4.5 cents….. That is impressive…!