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Gold has just taken off matching the Australian dollar breakout calling into question whether the mixed local data pushed the currency higher:
The AUD:
I can’t see any news of interest and the key technical level for gold has been around 1280 so perhaps a run at, and break of, it was enough. Markets are positioning for Janet Yellen tonight.
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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.
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