"The Australian currency fell to 100.47 US cents early on Friday, its lowest level since June 2012."
"The US dollar shot to 101.21 Japanese yen, passing the 100-yen mark for the first time in four years."
- Sign of strong employment growth sparked speculation that the US Federal Reserve may start to scale back its economic stimulus programs that have weighed on the American dollar for the past couple of years.
- The RBA described most of their growth forecasts as little changed, which gave the impression that they still have scope to ease their interest rate (but they are not likely to do so in the next month or two)
- Sydney is the hotspot - The place for investors right now. low interest rates! high housing prices! HEAVEN! 50% of the market are investors -proving to be stable. Watch the video here - only a minute.
From the May RBA Statement :
At its May meeting, with inflation a little lower than had been expected, and growth of economic activity likely to remain below trend into next year, the Board judged that a further reduction in the cash rate would help to support sustainable growth in the economy, and would be consistent with achieving the inflation target. The Board will adjust the cash rate as appropriate to foster sustainable growth and low inflation.
RBA has decided to cut interest rates by 0.25% with the intention to boost economy as unemployment is rather low in most capital cities. Housing markets though have been having 2-3 great years and this is even better news! Here's the link to watch the video
RBA has decided to cut interest rates by 0.25% with the intention to boost economy as unemployment is rather low in most capital cities. Housing markets though have been having 2-3 great years and this is even better news! Here's the link to watch the video
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