Aussie Dollar in a Copper Cauldron!
October 24, 2011 at 14:05 PM EDT
I keep thinking that any day now the Australian dollar will take a dirt nap. It took one back in mid-2008, falling a stunning 39 percent in just three months in the midst of the credit crunch. This shows just how vulnerable the Aussie can be to a growth accident that slams the world economy; it is the premiere risk currency among the major dollar currency pairs. Global growth is fading fast again, and copper seems to be highlighting that story. It could be lights out for the Aussie again if that’s the case. As you can see in the chart below, the copper futures weekly uptrend line is broken, and the primary trend is down. The . . . → Read More: Aussie Dollar in a Copper Cauldron!