Australia's Commodity Driven Boom Continues
We saw new confirmation of this today as employment rose by as much as 49,500 (0.45%) in September compared to August. That's the equivalent of nearly 700,000 jobs in the United States.
As long as commodity prices continues to rise, this positive trend for the Australian economy is likely to continue. This could pave the way for more interest rate increases from the Reserve Bank of Australia, something which combined with a new round of "quantitative easing" from the Fed might soon push the Australian dollar above parity against the U.S. dollar.