Regarding the US data coming out tonight, I think you will...

Regarding the US data coming out tonight, I think you will realise by today's XJO performance the Oz market is showing signs of decoupling from the US domestic problems -- even if they get a worse than expected number for consumer confidence, so what? What does it really mean for the Oz economy? Even if the US market slides into recession (which is quite possible, or even likely), it doesn't automatically mean that Oz will follow suit.

Whether you personally agree that the US problems will not result in significant fallout for the Oz market, there's now strong evidence that's what the market as a whole is thinking -- and it rarely pays to fight the market.

-Mark