The Aussie dollar continues to rally as confidence in a rebound in the global economy persists. It appears the worst of the recession may be over in many parts of the world and as such commodity prices, equity markets and the AUD have all outperformed during the month of July. With the Australian dollar approaching 85 cents it does appear as though the rally may have over extended itself in the short term as this figure was forecast for mid to late 2010, not August 2009! Local economic data suggests the Australian economy has avoided a technical recession and in fact the RBA may be one of the first central banks to increase interest rates as growth returns in either Q4 2009 or Q1 2010, another supporting factor of late for the AUD. Download full report >
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