AUD gained a little ground against the USD overnight. I expected somewhat of a small retrace of the AU with the FED announcement. Winding back the balance sheet, rate rise in December likely and a hawkish take on the US economy. Gold taking a bath but I wonder if 1300 will hold. Banks got the boost so with the rate rise now firmly on the cards I wonder if there will be outflows of money into the US from our financials. Our futures looking pretty flat but we both know that can change at any time. I think the only time I'm going to pay any attention to the futures is when they are overwhelmingly in favour of a positive or negative.
I'm also wondering if a rate rise in the US will effect the payouts of my funds holdings. There are a lot of investments that rely on interest rates for income and I would expect when the FED raises that that will flow through to a lot of my funds allocations. I wish they had to write a fund update every month!
I thought you weren't going to look at IO futures, just at the AGO sp
What do you look at for your IO futures price? I was having a look on investing.com and it was showing a decline. I'm sure I'm looking at the wrong thing but I cant find a +7% contract.
https://au.investing.com/commodities/iron-ore-62-cfr-contracts
Thanks for your kind words about my rose. It's my first one ever! I have 5 more bushes and will be sure to keep you updated
Wonder what ASN will do today. Not often a sp rises that much just for one day. I shall watch for fun!
GL today!
