Simple's Green Room

[simplegreen]

Good afternoon guys...stkjunky in trying to catch up on some posts I must agree with your comment about fundamentals driving the technical..but I differ in my opinion in that relative to what is really going on with Aussie dollar..IMO this beating is not fundamentally driven but driven by a concerted effort by top hedge funds to drive it into the toilet then ride up a helluva carry trade..its the Euro that's crushing Aussie...as far as fundamentals go Australia is light years ahead of the European Union on strength and recovery..Aussie unemployment even with a softening economy is 5.5%...EUnion rate although slightly improved is still not enough to budge it off an astronomical 12.1%..the EU has more problems than can be resolved in an average persons life span...same can be said for the US.Bottom line is that my opinion is that Aussies decline bears no logical resemblance to a fundamentals problem but smells more like a manipulation problem that's more typical of the George Soros tactics.BTW regardless of any and all economic releases by the various nations unemployment figures honestly reported tell you everything you need to know about a nations economic health.If employment figures are good then the economy is strong since over 70% of a nations economy boils down to personal spending..no jobs..no spending...but if employment numbers are bad then its very obvious that trickles into GDP data...corporate profits...housing..you name it!
Bottom line in my rhetoric is that fundamentals SHOULD drive techs but in Aussies case I simply don't see it..massive hedge fund manipulation...YES..fundamentals..NO....Softening or not Aussie and Kiwi economies are far better than any of their majors partners.
I would certainly entertain an opposing view although I doubt I will be able to be swayed from my opinion.