Tuesday, August 20, 2013

AUSSIE: An ominous development?

AUDUSD: Daily Chart @ Close 08/19/2013
Further to THE WEEKLY's Emerging Market/ Aussie 'Miracle' piece (08/16/2013); the AUDUSD has put in an 'ominous' Outside Down Day Monday as the regional Asian currency pressure grows (shades of 1996/97?).
The ongoing sell- off in Fixed Income markets globally; care of the FED's QE 'tapering' fears has led to the first of the 'unintended consequences'; a potential Emerging Markets Crisis.
If so; the Aussie may find itself @ the centre of a storm that tests its recent AAA/ Safe Haven Status, a reputation that some have been questioning for some time now (hands up!).