Nobody wants to play with the Aussie!

22.46 hrs.

Through all the market turmoil, the AUDUSD has remained strangely calm. In the past this pair was fairly strongly correlated to moves in gold, oil, the SP500. Today the gold and oil correlations still hold, but the SP500 has taken a beating and the Aussie has barely budged. It looks like nobody wants to play with the Aussie, there are more interesting kids in the yard ;-). The only events that seem to move it a little are China data and the RBA. And even those moves are now down to 20-40 pips.

The AUDUSD is receiving the worst kind of punishment, worse than being hated – it is being ignored.

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