Our Two Cents – Week of 10/3/11
Posted by Michelle Heath in Weekly News Roundup, tags: AUD, bailout, Currency, economy, ETF, Euro, European economy, finacial, USD
Another day, another dollar, as they say. Here’s our recap of the top financial headlines:
We begin in Europe where the continent’s economic powerhouse Germany was called in by her neighboring countries to help save the floundering euro. German Chancellor Angela Merkel rallied her surrounding nations to ratify the expansion of the European bailout fund as Germany backed a $287 billion package. Across the Atlantic Ocean, the United States saw incomes fall for the first time in nearly two years as Americans earned less in August. Financial officials worry consumers could cut back on spending, weakening an already-delicate economy. According to the Commerce Department, Americans saw their incomes drop 0.1 percent, while spending a little more. As September changed to October this past weekend and signaled the start of the year’s fourth quarter, financial experts are betting their most predicable currency pairs. Topping the list: the Australian dollar and the American dollar. The AUD has suffered some significant losses, but its behavior overall has improved and remained level. The AUD/USD pairing enjoys “highly respectable” ranges and “very nice” channel behavior. In other financial news, top officials at the exchange-traded fund (ETF) – a $1.3 trillion industry – are calling for more transparency, ultimately making them less risky for investors.
- ETF industry braces itself for transparency push, Reuters, Sept. 26, 2011
- World markets rally on European optimism, CNNMoney, Sept. 27, 2011
- 5 Most Predictable Currency Pairs – Q4 2011, Forex Crunch, Sept. 28, 2011
- German bailout vote: Merkel’s authority survives, BBC, Sept. 29, 2011
- US incomes fall for first time in nearly 2 years, Associated Press, Sept. 30, 2011
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