The strength in the value of the Aussie dollar against the US dollar — up more than 7% so far this year — tells us a lot about how markets see the two economies at the moment.
There were plenty of commentators who responded to last week’s national accounts data — with headline growth of 0.4% for the September quarter and an annual rate of 2.1% — by declaring the economy was weak. But the data was full of good news (or bad news that had an upside).