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September 12, 2017 | Copper Leading the Australian Dollar?

Jack has over 20 years experience in the currency, equity, and futures arena. He is an investment advisor who has held key positions in brokerage, money management, trading, and research. Jack is founder and president of Black Swan Capital LLC. He was also founder of Ross International Asset Management (specializing in global stock, bond, and currency asset management for retail clients) and General Manager of Plexus Trading (specializing in currency futures and commodities trading).

We are long AUD/USD and looking forward to the pair playing some catchup with copper prices.  The chart below compares weekly copper futures prices to the AUD/USD spot price.  Copper has moved above a key intermediate-term swing resistance level; Aussie has not.  The bottom pane of the chart shows the 10-year benchmark spread between Australia and the United States.  The down trend line going back to 2010 has been broken. 

090617 aud and copper.png

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September 12th, 2017

Posted In: Black Swan Currency Currents

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