ASX, Australian dollar, FMG tumble

David Llewellyn-Smith

Thursday, 29 March 2018

The AUD is at new lows during the day:

Bonds are bid:

XJO is plumbing new lows:

Dalian is flat:

But Big Iron is copping it. FMG has entered free fall and RIO/BHP both have double-tops. They all look like howling shorts:

Big Gas is off as well:

And Big Gold:

Big Sleazy is holding on today but still looks headed for a retest of 2016 lows:

Finally Big Puswad doesn’t have a care in the world because we all know that Australian property only goes up:

Avagoodeaster!

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.