Copper Leading the Australian Dollar?

09/06/2017 2:59 am EST

Focus: FOREX

Jack Crooks

President, Black Swan Capital LLC

We’re long Australian dollar/U.S. dollar. Check out the charts showing copper futures, writes Jack Crooks of Black Swan Capital on Wednesday.

We are long Australian dollar/U.S. dollar (AUD/USD) and looking forward to the pair playing some catch up with copper prices.  


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The chart compares weekly copper futures prices to the (AUD/USD) spot price.  

chart

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. 

Stay tuned.

View Currency Currents, commentary, and analysis at Black Swan Capital here…

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