Australian News

Reserve Bank of Australia
Glenn Stevens Speaking

Date of speech: Tuesday June 12th 2012 at 7:10pm EST

Glenn Stevens is to speak today at the Prime Minister’s Economic forum in Brisbane, Australia.
Governor Stevens has held his position since September of 2006. He has been involved in the economics of Australia for over 30 years so his words carry a lot of weight.

On Friday June 8th 2012 Governor Stevens said “For Australians, the glass is well and truly half full”. With positive momentum on Australia’s side from the 8th’s speech, it will be interesting to see what news is released today. Traders keep your ears open and keep an eye on the AUD for volatility.

[column size=”1-2″ last=”0″ style=”1″][/column]

[column size=”1-2″ last=”1″ style=”2″] Gov. Stevens as head of the Reserve Bank of Australia (RBA) has more influence over the AUD currency than anyone else in the world. He gives press conferences as to how the RBA (Reserve Bank of Australia) observes the current Australian economy and the value of AUD. His comments can be strong enough to create a short-term positive or negative trend. Pay attention traders and let fundamentals work for you not against you. [/column]

If the Australian economy keeps releasing strong figures we could see a bull trend established. On the other hand, with much of the attention on Europe (Spain and Greece) we could see a reduced demand on the Australian currency. Time will tell. Tonight’s news could be a crucial part in the upcoming direction on the AUD.

Here is a picture of the current state of the AUD/USD.





Written By: Tony College

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