Australian dollar departs underlying economy

David Llewellyn-Smith

Thursday 10 January 2019

The AUD is marching higher again today though it’s not lifted much from overnight:

Aussie bonds are bid again as they sniff out the bunkering consumer:

Stocks are flat:

Big Iron is mixed. Presumably BHP is ex-div:

Big Gas is tracking oil higher:

Big Gold is still warm:

Big Banks are still in the dead cat bounce:

Big Realty is mixed:

And Big Retail is largely ignoring the demolition of Costa Group:

Expect more profit warnings in the sector soon.

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.