Australia dollar breaks but no joy for ASX

David Llewellyn-Smith

Wednesday, 25 October 2017

Bad signs for the ASX rally today. The AUD has broken support:

And Dalian is calm:

But local stocks can’t catch a bid. With Big iron firm:

Pensioner Killers still on the up:

Big Gold enjoying the lower AUD more than hating falling gold:

Big Sleazy can’t get going despite a big bond bid:

And Big Turd is down:

ASX flat and out of puff.

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.