AUS/USD vs Copper vs S&P500 vs Steel Index
Milk prices march higher but a bad milk auction has reversed the crushing effect the NZD has had on the AUD. Also RBA statement that was some what bullish on the AUD (zero jawboning) gave the AUD extra strength.
I created this chart to show that the EURO has in fact turned to behave very much like the JPY as a 'funding currency' That is when the major global markets go up their currencies decrease in value as tons of their currency get shoved into the market to the effect their entire currency value decreases. Then when global markets fall heavily the funding currencies...
ASX (blue) vs China stock market (RED). Despite the well reported huge sell off of the China stock market our ASX 200 is still performing lower. Why? I blame the RBA and Glen Stevens... RBA release of statements that are foolishly of positive narrative to bullish tone on the Aussie Dollar ( goo.gl ) which is crippling us economically. The international markets...