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Rigidly tied to the direction of Western equity markets for many months, the Australian dollar...
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Thursday, November 17, 2011, 12:27 PM ETRigidly tied to the direction of Western equity markets for many months, the Australian dollar has begun to diverge, losing ground the past few weeks as stocks hang in there, as well as threatening key technical levels that could signal a bigger plunge. Robert Sinn wonders if this highly sensitive commodity currency isn't signaling trouble ahead. FXA -0.5%.
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The multi-billion dollar question is whether Chinese construction rates are really under control of the government. If so, Oz will just see a soft patch until China eases up a bit. If not, China and commodities (and therefore Oz) are kaput.