by Chuck Butler
Daily Pfennig
Currency investors may look favorably on the Australian dollar (AUD) for a number of reasons, including its diversification benefits as the “commodity currency,” the stable economy and government underlying the currency, or the relatively laissez-faire monetary policy of the Reserve Bank of Australia (RBA). But, the “Aussie” has also been a long-time favorite of the Daily Pfennig® newsletter for measuring the temperature of global economic growth prospects, primarily due to the Australian economy’s importance as a major worldwide provider of raw materials for most manufacturing industries.