Australian dollar short squeezes higher

The Aussie dollar is roaring higher this morning as the bulks roar and consumer confidence was OK:

We can expect to see these squeezes continue on any good news given the market is so short.

Bonds are bid:

The ASX can’t lift. The rotation from banks to dirt is zero sum game:

Dalian is firm at the open:

Big Iron is up:

Big Gas is mixed:

Big Gold sick:

Big Mortgage is falling and is ugly on the monthly chart. Real ugly:

There is some relief for tech today but realty is still weak:

The ASX remains a huge dog, I’m afraid.

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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.