Aussie Jeopardizes Investment Boom In Australia

As reported by Market Leader (US)

The Australian Dollar weakened after BHP Billiton stopped financing the development of a big uranium-copper mine located in the South of Australia.  The project is estimated at $30bn.

The mining giant shocked analysts by such an unexpected decision, which was revealed right amid an investment boom.

 
According to National Australia Bank, may well become crucial for the future of the Australian Dollar. Risk are higher and the Aussie’s rally is in jeopardy.
 
Another major threat comes from Glenn Stevens, Governor of the RBA, who thinks the national currency is too strong, which affect the competitiveness of Australian products.
 
According to Masterforex-V Academy, the Aussie keeps retracing against the US Dollar. The experts report that AUDUSD has finished forming wave А/В of level Н4 and is currently making a correction against it.    Read more...

 

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