The Australian dollar is weak

Monday, 13 May 2013

Here’s the Aussie chart for today. See the spike on the breakout Housing Finance figures? No?

That’s because it isn’t there. Had today’s Housing Finance figures come out any time in the past year the dollar would have piled on a cent.

Either it’s now structurally weak, or weak on this morning’s other news flow – Chinese downgrades by Standard Chartered, QEnd, or the bad NAB survey – or it’s set to rally.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.