Normally I agree with you Tomboy but I'm not so sure about today. The AUD$ went higher in the afternoon, which translates into relative confidence in the Aussie market and almost by de facto, resources. I have far greater confidence in currency traders over investment analysts that they know what is going on, as even a fraction of a percentage point is worth millions of dollars to them, so I tend to use the AUD/USD figures as my tea leaves of choice.
I know the AUD didn't go up that much today, but it did go up. Usually if there is a macro-level event which drives the resource sector down, you will see a positive correlation with the AUD. Anyway I know as much as you guys do, probably much less, but that's what the leaves are telling me.
FMG Technical Analysis, page-6811
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