Australian dollar burning ignites ASX

David Llewellyn-Smith

Friday, 15 June 2018

The AUD is still under pressure this morning:

Bonds are bid:

XJO has launched:

Dalian is soft:

Big miners are up:

Big oil is up:

Big Gold is up:

Even Big Scum has rebounded as yields fall:

And Puswad:

A word of warning, Shanghai is breaking down as capital flight intensifies:

But for today the lower AUD is manna from heaven. Avagoodweekend.

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.