Stack the Head Smack

OK who just head crashed the SELL button on the Gold desk after briefly recovering from an Independence Day hangover?........stack the head smack?

chart from goldprice.org

Australia and China strike another nail into the US Dollar for Independence Day

Surprising it has taken this long to be considered officially, considering that China is Australia's largest trading partner.


From ABC Online

Original source

Australia is hoping to become the third country in the world to be able to directly convert its currency into Chinese yuan.

The Treasurer Wayne Swan will push the case at a currency forum in Hong Kong and during meetings with Chinese leaders in Beijing next week.

Analysts say Australia's push to directly convert its currency into yuan will make trade with China more efficient and will lower transaction costs, particularly for the country's big miners and importers.

ANZ currency strategist Andrew Salter says currently they have to go through the US dollar or Japanese yen first.

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The blogger is back

Hi all, sorry for having no new posts on the blog over the last few days. I had a few days off at Port Macquarie in an internet dead zone.

Hastings River, Port Macquarie, Northern NSW, Australia