Australian economy shrinks 0.5% in September quarter, worst fall since global financial crisis
http://www.abc.net.au/news/2016-12-07/economic-gr…
The AUD/USD subsequently declined. My personal view on the Australian economy isn't bright. We had the mining boom and about $20 billion AUD of government savings to splash out on stimulants. Now global Iron Ore demand has gone down significantly and we are in a deficit. Plus like most developed economies we have a huge presence of Chinese property investors driving up the prices and private debt is 165% to GDP, 4th highest in the world I think.
Interested to hear what WSO thinks