I'm not sure what to make of this chart (10 year weekly).
I know I always considered $FXA [$AUDUSD] to be pretty much a "risk on" currency pair
We can see on the chart below that it trended up with the $SPX during 2006 / 2007, before the crash. And we can see that during the crash (2008, 2009) that it dropped precipitously with the $SPX. And we can see that as the $SPX soared through the middle of 2011 (thanks to central bank intervention) $FXA was a leading indicator to the upside.
So.. what's up with the odd looking crossover in early 2013 and subsequent divergent movement?
click for larger image
Not like I know.. I'm asking some of you smart people ;)
Greg
Let me know what you think on twitter @Ancient_Warrior
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