Positive sentiment everywhere
It doesn't take long for positive sentiment to get switch to ebullition. A google trend search for 'melt up' shows a spike in interest in the term.
In the FX market, AUD/USD continues to be a great barometer of the global growth trade and in particular the 200-day moving average. It's a level that capped AUD/USD for 18 months but now looks like it could be support for the year-to-come.
As much as I like this trade, there is still plenty to worry about in the global economy. You wouldn't know it from the stock market but there's hardly any positive signs in global manufacturing.
