Australian dollar pops and drops on retail illusion

Friday, 11 January 2019

The Australian dollar popped and dropped on today’s Black Friday retail illusion. But the path of least resistance remains up:

Bonds are consolidating:

XJO is flat:

Dalian too:

Big iron is soft:

Big gas still rising:

Big gold is struggling at breakout levels. Goldman upgraded it today. Sell!

Big banks are soft too:

Big realty is waiting for a trigger to push lower amid poor charts:

Avagoodweekend.

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.