I posted this yesterday which may explain why we have been underperforming the DOW and will explain why we don't fall as hard today....If the RBA were to cut rates today, we would also see the gap close further....US are on there way back IMO...
With the cash costs of miners in AUD and the commodities exports in USD + US is at or near the bottom...Australia just might weather this storm brewing over Europe...
Even if China pulls back on Europe, I think it may be offset by rising demand from US...
Plus Australian manufactured goods for export should start to increase 2012..
AUD / USD needs to hold around 85c
The XJO has been underperforming the DOW so this may also support further weakness..
Not saying we won't sink to new lows in the meantime.
Just a thought?????
I posted this yesterday which may explain why we have been...
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Last
8,109.9 |
Change
18.000(0.22%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,091.8 | 8,116.9 | 8,041.3 |
| XJO (ASX) Chart |