2013 was a turning point when it comes to correlation with SPY

FX:AUDUSD   Australian Dollar / U.S. Dollar
Back then, in the days prior the current currencies war, $AUDUSD was highly correlated to the stock markets and the $SPY in particularity.
Now that $AUDUSD has touched new low and $SPY touched new record high, could it be that we are going to see that inverse correlation working against the stock markets?
I think it's highly possible.
Would imply a gold rally is in the making as well.
+1 Reply
Gold broke below my support zone, but I'm not sure what to make out of the aggressive buying we've see there.
A close back above 1120$ could mean a huge false break to the downside and potential bullish signal
IvanLabrie PRO themarketzone
I'm fading the move up. I think it's a correction before more down.
I'll trade it by going long GBPNZD, correlation wise, or long AUDNZD.
Lots of manipulation in gold right now.
There's at least one more fake bull run and then a new strong decline before we can see the rally back to 1188-1237 materialize in my opinion.
Long $GBPNZD is risky. I'm up 280 pips today shorting it. I think it's overbought but still has NZD rate coming so anything is possible
IvanLabrie PRO themarketzone
Indeed, this is my analysis on the subject:

I had a short idea for GBPNZD, but got stopped and decided to trade spreads instead. That's one wild pair.
Interesting correlation, i think they will tend to align again, SPY will fall and AUDUSD will rise.
+1 Reply
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