This last observation is also confirmed by the excellent 36-months cycle that has accompanied AUDNZD for over 25 years.
As we can see from the graph on the left, the next cyclic bottom is expected for the end of 2014 and this confirms that the Aussie could begin to curb its fall, but only after several months of accumulation we would prefer ( or speculate ) on the appreciation of AUD respect to NZD. And there is a stock market directly affected by the evolution of this exchange rate.
We are talking about gold stocks (HUI index ), that, as we can see from the graph, faithfully reflect the evolution of the exchange rate of AUDNZD (graphic sources: Bloomberg and Metastock).
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