If I have one slam dunk prediction for 2013 it’s the Australian dollar falls as investment dries up. It has a chance to rally in the first half of the year but the end of the era of AUD strength is near.
Rio, BHP to Make Further Cost Cuts
In a sign of how belt-tightening by mining companies and rising costs are having an impact in Australia, the government’s top forecaster said Wednesday that the number of advanced resources projects in the country had fallen more than 10% in six months, while several under construction had overrun budgets by two billion Australian dollars (US$2.1 billion) or more.
