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Microsoft Staff Photo 1978

We all know Bill Gates started the Microsoft Corporation which is listed on the NASDAQ stock exchange under stock code MSFT. But the question is... if you had the cash to invest in a company in 1978, would you invest your money on this team?

Gold

Gold declines in Value by $20: There were no fundamentals related to the selling of gold, but gold dropped in price by US$20 an ounce to below $US550 in its biggest one-day decline in two years. Technically there could be more selling ahead as the bears take hold of the market. Support may be found once frech buying from gold believers set in. The gold price movement has consequences on the forex markets with the USD/CAD and AUD/USD are easily influenced by gold movements.

AUD Falls a Little Further to US74.21¢ at 7am (AEDT) - A Delayed Reaction to Non-Farm Payrolls Data: The Aussie opened weaker today (Tuesday) as the US currency gained on most major currencies. At 7am (AEDT), the Aussie was trading at US74.21¢, lower than Monday's close of US74.72¢. Overnight, the AUD reached a low of US74.13¢ and a high of US74.75¢. There is a lack of economic indicators this week so the US dollar gained from a delayed reaction to the non-farm payrolls released last Friday. The RBA meets today for the first time in 2006 where the market sentiment is that the Australian interest rates will be kept constant at 5.5 per cent. The data releases expected today are: NAB quarterly business survey and D&B January business expectations survey.

Aussie Dollar US Non-Farm Payrolls Data

The Aussie was slightly lower as a result of the US Dollar rallying from the release of positive non-farm payrolls data. At 7am this morning the Aussie was trading at US74.88¢ which is down from Friday's close of US75.32¢. Over the weekend it reached a low of US74.77¢ and a high of US75.34¢. Another figure that helped the US dollar along was the falling unemployment rate - which fell to a four and a half year low of 4.7 per cent and a revised 193,000 jobs were added to non-farm payrolls. This result lends itself to last weeks expectations for further US interest rate hikes in the future.

The Aussie dollar has added more than half a US cent since Tuesday amid speculation that the US Fed may not be quite done lifting rates. The dollar gained momentum throughout the night supported by commodities and gold. At 7am the Aussie was at US 75.14¢, Tuesday's close was at US75.12¢. The US Fed reserve raised interest rates to 4.5 per cent the highest since April 2001. The statement issued by the Fed was scrutinised by investers to interpret any futher information indicating any future interest rate direction.

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