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

Monday, December 5, 2011

Stocks rally. Aussie up

Aud/Usd at 1.0297
Stock prices rose and borrowing costs for European governments dropped sharply in response to the changes proposed on Monday by French President Nikolas Sarkozy and German Chancellor Angela Merkel. But some of the optimism faded late in the day when Standard and Poor's threatened to cut its credit ratings on 15 eurozone countries, including the likes of Germany, France and Austria which have been considered Europe's safest government debt issuers.

Aud/Myr trending upwards to 3.23
but may reverses as Aussie is set to face RBA cut

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