US Data Slipping $3.2 Trillion Under the Rug

31.05.2016 • Investing

From The Gowdie Letter (AUSTRALIA)-

The US market posted a 200-plus point gain overnight, so the ASX should start the day well.

All the talk about the Fed possibly raising rates a whole 0.25% in June or July obviously did not dampen trader enthusiasm.

The prospect of a higher US cash rate has strengthened the US dollar.

A month ago the Aussie dollar was nudging 78 US cents; today we’re under 72 US cents…an 8% fall.

Gold too has suffered from a stronger US dollar. Earlier this month the precious metal was nudging US$1,300; last night it was trading at US$1,227.

For Australian gold investors it’s not all bad news. The 6% fall in the USD gold price has been offset by the weakening Aussie dollar.

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