Bitcoin slammed to new lows as ASX finds a sweet spot

David Llewellyn-Smith

Friday 2 February 2018

BTC has just reeled to new lows as the exits get jammed:

AUD/USD is soft:

Thanks to the building Aussie bond bid:

All of that has created a sweet spot for XJO as the falling USD energises a big commodity spruik but the reality of crap Australian growth triggers the bond bid:

Dalian is stable:

Big Iron is up:

Big Gas too:

And Big Gold, though it remains mysteriously coy, which throws doubt on the USD dive:

Meanwhile, Big Sleazy is loving the bond bid:

But Big Puswad isn’t enjoying global rate rises!

Good!

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.