Normally I don't watch the foreign currency exchange, but I usually have a Price of Gold chart in Australian dollars open. When it moves 1% within a minute without any other currency moving, I like to find out the reason why.
Anyway... here is a link to the ABS CPI June Quarter 2010 Up 0.6% media release.
This sort of stuff usually gets released mid morning. In case the Federal Parliament is sitting, this gives the members some time to formulate their questions and answers for question time at 2:00PM.
Perhaps the recent rise in the AUD was the due to the hyperbole surrounding the likely rise in interest rates by the Reserve Bank (RBA).
However, it should be noted that during an election campaign, the RBA will try best to refrain from moving interest rates in either direction because of the political fallout.
So why then was the media, financial commentators tipping a rate rise, when it most likely is not the case ?
Manipulation... perhaps ???
