| Australia raises interest rates first |
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The biggest surprise Tuesday's session is a decision taken by the Bank of Australia, who, contrary to economists' expectations raised its main interest rate from 3 percent. to 3.25 percent. President of the Australian central bank after the recent upbeat data from the labor market and increasing investment in the private sector joined the camp of attitude, so a rise in interest rates by the major central bank has become a reality. Economists estimates did not include refocusing the bond market, which is just prior to the decision of the Bank of Australia the chance to assess growth rates of around 60 percent. The foreign exchange market specifically Australian dollar appreciated against the U.S. dollar, although the data on Australia's balance of trade showed a decrease of both imports and exports. Week in the capital market in the U.S. began with solid increases in stock prices - the S & P 500 rose 1.5 percent. mainly due to the high demand for the securities of banks. Goldman Sachs analysts raised their recommendations for large banks, which they should deal better than the relatively small regional competitors. Selecting a point of reference is not in this case, perhaps the most accurate, if we take into account the fact that from the beginning of the year in the United States has already closed 95 banks and an average of every week the list is increased by 2-3 items. This can be a little bit as if they recommend investors buy the bonds of New York (whose tax revenues are now nearly 40 percent. Less than a year before) just because California is in a worse financial situation. A lot of controversy among investors led to the information appearing in the British press, which shows that the Gulf countries keep secret talks with Russia, China, Japan and France on a basket of currencies to replace the dollar. The changes would be introduced gradually, so that eventually oil valued for several years in assets unrelated to the dollar. Gold began the day with the strengthening against the dollar by 1 percent. And against the euro and the franc gained around 0.2 percent. |
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