Generally, when stocks go up, the Australian dollar goes up with them. Often we refer to this correlation coefficient and how it can be used to help determine the possible direction of one asset based on its correlation with another asset. In this case, the S&P 500 and the AUD/USD have a +.95 correlation coefficient. A correlation of +1.00 means that the 2 assets move perfectly together 100% of the time. Therefore, a correlation coefficient of +.95 is pretty close.
SP 500 Emini Futures Daily Chart
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