Remember the LORD for it is he who gives you the ability to produce wealth and so confirms his covenant... Deut. 8:18

Wednesday, November 30, 2011

Stocks surge for 2nd day. USD down. Aussie soars

Eurozone stocks surge for second day on news of coordinated efforts by Federal Reserve and others central banks to ease the threat against the currrency Euro. Commodity currency Aud continue to soars to 3.27 against Myr.

Aud/Myr posted weekly gain of more than 5 % while
Aud/Sgd gained more than 3 %
Similarly Aud/USD gained abt 6 %

Although gold in USD actually soars 4 % to 1747 as US dollar weakens ...,
But in AuD, gold actually continue to retreat 2 % to 1696 level as it now requires less A$ to buy the precious metal

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