澳元升至金融危机前的水平

pinxinge

Aussie surges to pre-GFC levels amid Fed speculation

By finance reporter Lexi Metherell

source: ABC.net.au

The Australian dollar has risen to its highest level since before the global financial crisis really unfolded with Lehman Brothers' collapse.
The local currency hit 94.57 US cents overnight, its highest level since July 2008.
The rise of the dollar came as the US dollar fell, on talk the Federal Reserve will buy as much as US$1 trillion worth of government bonds in a bid to bolster the economy.
A senior economist at Westpac, Huw McKay, says that speculation has weighed on the US dollar, because by buying bonds the Fed increases the supply of the currency.
"Basically, it's a simple story of supply and demand," he said.
"When a central bank buys bonds off the government essentially that is new money in the system. And when you increase the supply of one currency, and what you're measuring against remains stable in supply - you've got too much of the first currency. So that means that its value must fall in terms of the other."
The speculation over the possible Fed plan was fuelled by a report by Goldman Sachs, which said a Fed asset-buying program could begin in November.
Such a move would be aimed at keeping interest rates low, to encourage consumers to spend and businesses to invest.
Mr McKay says the Fed needs to act to encourage more borrowing.
"If there is seriously too little demand for money in the system, then you could end up in a deflationary environment and that's a very, very dangerous place to be. Central banks will do whatever they can to avoid getting to that situation," he said.
"If [the Federal Reserve] wants prices for goods and services to rise, [it can] create excess supply of the money. And so what they are thinking, is they can take some insurance out against deflation, and pull down interest rates, so those who do wish to borrow can do so. But also those who hold a stock of debt have a lower servicing burden, because the interest rates they will be charged will come down with that benchmark rate."
It was a mixed night for sharemarkets on Wall Street, as the talk of the plan saw investors flood into Treasury bonds, while gold prices soared.
Stocks rose earlier in the session, after the release of better than expected data from the US Commerce Department, which showed retail sales increased 0.4 per cent in August, to mark a second consecutive monthly rise in retail sales.
But the sharemarket gains fell away, and the Dow Jones Industrial Average has closed lower for the first time in 5 days.
The Dow has lost 17.64 points to 10,526.49.
The S&P 500 index has dropped 0.8 point to 1,121.1, after financial stocks dragged on the market.
Technology shares rallied, and the Nasdaq is 4.06 points higher at 2,289.77.
It was a subdued night in Europe, after a closely watched survey of expectations for the German economy came in lower than expected.
Frankfurt's DAX 30 index closed 13.73 points higher.
London's FTSE 100 has finished 1.88 points ahead at 5,567.41.
The local sharemarket is poised for a fall, after rising yesterday.
In futures trade, the SPI 200 is down 10 points at 4,630.
Gold trading on the Comex exchange for September delivery hit a new record high of nearly US$1,270 US dollars an ounce.
West Texas Crude oil was worth US$77.64 a barrel.
At 8:10am (AEST) the Australian dollar had slipped back against the green back, and was fetching 93.93 US cents.
It was worth 78.015 Japanese yen, 60.45 British pence, and 72.31 euro cents.

pinxinge

Strong AUD$ and stupid US$.

ljbit

准备长登的人心急如焚！
楼上跟我一天走，只不过我准备去悉尼

wukong

never really understand how and why currency market changing

pinxinge

原帖由 wukong 于 15-9-2010 15:17 发表

                               
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never really understand how and why currency market changing

might be just part of steal chicken.