Very strange trade in the Australian dollar

Aussie building approvals crashed this morning yet the AUD went up:

Reuters misreported the numbers early so perhaps that explains it. It should have fallen half a cent, bonds got the message:

Stocks are up:

Big Iron is up. FMG is enjoying 58% resurgence as mills look to cut costs:

Big Gas is up:

Big Gold is still consolidating:

Big Banks are down:

And Big Realty:

It seems all that matters right now is to buy as the Fed and trade war threats recede. But under that the Aussie economy is quietly falling apart and EPS plus RBA will follow.

 

Comments

    • Pretty poor. Imagine if you were a trader short the AUD and got squeezed out on this.

      Now imagine you worked at Reuters and had an FX position prior to pressing the “publish” button – hmmm… Nah.

  1. Long AUD = risk on. Not long before US stocks swoon again.

    All the market has to hang on is Jay Powell’s words. Liquidity still tightening so until that reverses watch out below.

  2. If Europe or America enters another recession, we could open the floodgates to hundreds of thousands of young, educated, hard-working and culturally identical young people.

    If we are insisting on big Australia I have no idea why we do it with bottom of the barrel !ndian males….

    • Mate the simpsons has this solved decades ago.

      Apu works at the quickEmart. 20 hr shifts. Makes no money. Loves America.

      That why import those blokes – to work long hours for no money and be thankful for the opportunity.

  3. Never underestimate the poo. There has been a raft of bad economics figures c0ming out, yet other than the weird flash crash, the AUD keeps bobbing around. Climbing when it shouldn’t. Talk about manipulated.

  4. Geez guys, can you do something about your stupid blacklist? Why on earth would the word c0ming need to be blacklisted? It doesn’t even get marked as spam or waiting moderation. It just reloads the page with the comment missing and no explanation. At least post a list of words we supposedly can’t use.

    • The Traveling Wilbur

      You may have missed the subtle irony of HnH’s choice of words in his reply.

      And if he’s serious about a new system… well, I’m not optimistic about the possible outcomes – let’s leave it at that.

    • Yes, on cultural & diversity grounds.

      Some w0men, especially from Afr!can countries have suffered mut!lation (as children) that intereferes with it, y’see. So no nobody can talk about it.

  5. Strange trade the other day too dropping to 67/8
    The excitement is just getting started
    Put your seatbelt and helmet, it’s going to get brutal over next 12/24 months