(Entertainment-NewsWire.com, June 11, 2013 ) DongGuan, China -- With the recent weakness in China’s manufacturing performance, the Australian Dollar has come under heavy selling pressure. The AUD/USD come down from 1.05 to 0.94 causing many traders to lose the interest in triple A rated currency.
Mr.Pilstberg who is the leading analyst for China’s largest Aluminum extrusions company told journalist that there are some prominent hedge fund operators in China and Australia that have been vocal on moving away from the Australian dollar.
The positive effect of the falling value of the Australian Dollar will be evident throughout Australian economy in a few years as die casting company Alcoa will find itself more competitive supplying aluminium ingots and other products from Australia.
“Traders seem to be betting on a rate cut in July,” said one Australia-based FX trader. “I’ve heard the George Soros rumour tonight. A billion dollars sounds like a lot, but it’s not enough to move the Australian dollar and it’s not a lot for George Soros, but there is a play happening in the FX market.”
The FX trader explains that George Soros has some vested interest in Aluminum diecasting companies.
P&A International is the premier provider of quality custom die casting products originating from China. The company offers a range of aluminium die casting services to suit clients’ needs across a number of industry. The experts predominately work with high quality aluminum enclosures and components. As a China based company it is able to deliver aluminum parts and components at competitive pricing.
About PA International:
Founded in 2008, P&A International is a China-based company formed by partners with an engineering background. Its main focus is manufacturing of skill and technology intense parts and components in China.
