Australian dollar short squeeze squashes ASX

David Llewellyn-Smith

Tuesday 22 May 2018

The Australian dollar short squeeze is still running through the morning:

Bonds are bid:

XJO is copping it as the double-top firms up:

Dalian has opened weak:

Big Iron too:

Big Gas to the moon! WPL is breaking out of a bullish ascending triangle:

Big Gold is still falling. More to come:

As is Big Scum. CBA is only a few cents from breaking its low $69s support. The weekly chart if already caput:

MEA is toast but for some reason other listings businesses are awesome:

AUD down, XJO up. AUD up, XJO down.

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.