The end of the calendar year in the US, is also the end of their financial year.
That means mutual funds and individuals sell losers late in Dec to lock in losses.(fall). They then buy in early January (rise) to reinvest new funds. "The January Effect" is well known and people have anticipated for years (it may now occur before the new year)
Strangely, Friday is the most profitable day of the week, Monday, the worst. The same happens with other events (can't remember them)
Australia is a commodity currency proxy and the 5th most traded currency, rising central bank interest rates indicate, rising economic activity, which means rising demand for commodities, which means higher demand for AUD. And yes stocks seem to move in tandem with the exchange rate. ASX moves up, when the AUD/USD moves up
Your on the money Lies.
TFC Price at posting:
$1.64 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
