Sunday, September 19, 2010
Australian Dollar weathering economic times
The Australian dollar has been performing well recently, and economists see this as a positive sign for the global economy. The key to this surge has been copper prices, Australia is one of the leading exporters of copper in the world. Copper along with other metals is integral to industrial production. Copper has traditionally been a consistent economic indicator, and its increase in price bodes well for the future. Economists have also found strong correlations between copper prices and prices of transportation stock (railroad companies, shipping companies ect.), in the United States. With the future of the American stock market unclear, and with fears of a double dip recession or deflation. The rising price of copper is a positive sign for the US economy.
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Seeing the value of copper go up is hopeful for the global economy, though i not sure that it will have much of an effect on the US. I am curious to see what impact it will have and how long the improvement will last if there is any at all.
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