Australian dollar, ASX jump as Trump says he’ll free Huawei

See the latest Australian dollar analysis here:

Macro Morning

The Aussie dollar is climbing through the morning:

As POTUST gives us all the big hint, at Bloomie:

President Donald Trump said he would intervene in the case of Huawei Technologies Co. Chief Financial Officer Meng Wanzhou if it would help win a trade deal with China.

“If I think it’s good for what will be certainly the largest trade deal ever made – which is a very important thing – what’s good for national security – I would certainly intervene if I thought it was necessary,” Trump said Tuesday in an Oval Office interview with Reuters.

Bonds are the short end are sold but bid long:

The ASX is rising too with S&P futures:

Dalian has held its overnight gains:

Big Iron up:

Big Gas up:

Big Gold down:

Big Banks off the lows:

But Big Realty struggling:

Through the POTUST looking glass we go.

David Llewellyn-Smith
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  1. I’d love to be a fly on the oval wall office and really understand what just happened.
    After a brief shock’n’disbelief period I sort of concluded that this was really about US internal politics, Democrats wanting to force Trump to intervene in a way that made him look soft on those damn cheating Chinese. That’s political ammunition that advertising money just can’t buy you.

    • alternatively …….and imho more consistent with the Trump ‘style’ …. give me what I want on trade (code for stop stealing IP, stop manipulating your currency, stop manipulating the WTO rules etc etc), and I’ll drop charges against Weng and give you guys a ‘face’ victory ….. BUT ….. don’t get on message with me and she’s toast. By the way, that goes for any other PRC oligarch the US can get its hands on …..

  2. In other words, Trump talks a lot but is going to give everything to the Chinese. He should be tortured and killed slowly.

    • you got TDS real bad kodiak (ie Trump Derangement Syndrome for the uninitiated) …….. take a deep breath and smell the roses, enjoy the weather …..

  3. Trumpty Dumpty tried to build a great wall
    Trumpty Dumpty had a great fall
    GOP Senators and Congressmen
    Couldn’t’ put Trumpty together again.

    Markets reverted already. Shows the limits to jawboning even if you’re POTUS.

  4. Well any suggestion that this wasn’t a political stitch up all along, or that the US judiciary are independent, just got trashed. Now we can all look forward to the new world of random application of the law. This won’t end well, the Chinese can lock up just as many as the Americans, and their courts are far more obliging to the CCP.