Australian dollar, shares sink as world rallies on NAFTA

David Llewellyn-Smith

Monday, 1 October 2018

A new NAFTA deal is struck but it ain’t helping Aussie assets despite S&P500 futures storming ahead. The AUD is soft:

Bonds are bid:

XJO is down solidly:

Dalian is closed but Big Iron is down on weak China PMIs:

Big Gas too:

Big Gold is mixed:

Big Mortgage is getting caned on Hayne:

Big Realty is OK but GMA is looking vulnerable:

Not much fun for Aussie-bound money.

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.