ASX crawls, Australian dollar leaps higher

David Llewellyn-Smith

Wednesday 13 December 2017

The ASX is mounting another challenge for new highs in its unmistakably bullish ascending triangle chart:

This despite the AUD being well bid:

Bonds are selling too so its a generalised lift in Australians growth sentiment for no obvious reason. Fatigued bears.

The ASX is firing on both cylinders, of dirt:

And debt:

As The Cartel takes a breather:

And Big Gold keeps falling:

Big Poopshoot is weak and REA looks in for it:

A hawkish Fed will end the AUD and boost shares. A dovish one will boost the AUD and end shares.

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.