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Market Wire Update:
Aussie Bull About To Be Unleashed
The Australian Retail Sales (0.5%) and Building Approvals (2.4%) are issued at 7.30 pm EST. Anything above either number, whilst the other holds steady, will be bullish for Asian stocks (Nikkei Futures are already higher, and S&P Futures are holding above 1040), as well as allowing 0.9050 AUD/USD to become a swing point.
The moment that global growth registers, the link between Usd/S&P will deteriorate, and the interest rate differential will kick in. At that time AUD/USD will be seen as the main player in the interest rate world, and A$ and Usd may find parity by year-end if the central bankers indicate global growth warrants that the liquidity bowl can be removed. If equity buyers show up; game over. The aussie bull rampages.