All we are witnessing here is a “Bear Market Rally”. As I said in late 2007 on this forum and was boo’d down by my critics, the world was going to see a recession like they haven’t seen since the Great Depression. The US and Europe would lead us into it and will lead us out of it. What we are witnessing is the perfect storm brewing and there won’t be anywhere you can hide from it.
Both economies though have probably bottomed out or are very close to bottoming out. They are though no where near recovering as the problems that caused the downturn in the first place haven’t been fixed but the markets including the AUD have started behaving as if a recovery is in sight. It isn’t and won’t be for some tim