Word over the weekend that China would launch a massive stimulus package has helped boost soggy commodity markets. Gold is up 4% and oil is up a similar percentage. Slumping demand in the developed world filtered through to the formerly fast-growing BRICS and the markets hope that China’s efforts will pay dividends around the globe, and lift demand.
AUD is underpinned today on the news, trading at 0.6950. Similar story for Kiwi, which is at 0.6020.
