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Goldman Sachs reiterates bullish call on greenback
Goldman Sachs is telling clients to buy the dollar as the market underprices the odds of a Federal Reserve interest-rate increase this year, according to the Sydney Morning Herald.
A stronger US dollar generally means lower commodity prices.
In a note, Robin Brooks, Goldman Sachs' chief currency strategist, said the likelihood of a rate hike by year-end is 75% after the US Labor Department released stronger-than-forecast payroll data on August 5, up from 65%. The futures market is pricing in about a 50% chance, up from 36% the week before.
Ewen Jones in tilt for QRC role
Ewen Jones, the former member for Herbert in far north Queensland, may be applying for the role of Queensland Resources Council CEO, according to the Australian Financial Review.
Jones – who conceded defeat in the hotly contested seat to his Labor opponent, Cathy O'Toole, just over a week ago – is believed to have been sounded out for the CEO role, which will be vacated by Michael Roche.
