Wednesday, December 1, 2010
Aussie at the brink?
That looks like a pretty tight head-and-shoulders top on the Aussie battler. The neckline is already busted and its along way down to the waste.
For extra frisson, have a look where it was trading during the last bout of European debt woes in May.
Time to buy those $US travelers cheques...
Though you didn't hear it here, because this blog doesn't offer investment advice.
It's just as well because at the rate of decline we're seeing in manufacturing, pretty soon it'll be hard hats all around. The PMI slumped again last month:
God knows how you can have an economy with record business investment and manufacturing in terminal decline, but somehow we're managing it.