Australian dollar hit again as credit crunches building

David Llewellyn-Smith

Tuesday, 3 July 2018

AUD is near the lows again after a nasty miss on building approvals which looks very credit crunchy:

Bonds still bid:

XJO up:

CNY still crashing with the PBOC setting:

Shanghai does not look well:

Dalian soft:

Big Miners are weak. FMG is looking to break to new lows:

Big Gas still powering:

Big Gold finally focused on AU over AUD:

Big Mortgage is up again as yields fall. Reliable as clockwork:

Big Realty is in a world of its own. Or perhaps it senses a rate hike?

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.