Wed Jul 3rd 2013 - AUD Strategy Update: RBA Gov Stevens Speech (i) As per last 5yrs Stevens remained optimistic about AUD economy. Grown 13% since GFC while China GDP +50% since 2008 & expects 7.5% ann. growth near term (ii) Even with this acknowledged face big challenges as AUD growth transitions from resources Cap. Ex. to (a) dwelling spending (b) non-mining inv. assisted by cash on balance sheets & (c) resource exports (iii) Overall, repeated AUD economy well positioned for growth "handover" & the RBA will do what can be reasonably done to assist with the change (iv) Mkt volatility remains elevated. ASX 200 reversed for 3rd day to 4730 vs Tues 4834 cls & $A finally broke lower < 0.9130 to test 0.9090 on Stevens comments - For business strategy solutions please contact [email protected]
Posted on: Wed, 03 Jul 2013 04:42:03 +0000
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