Australian dollar sinks as recession risks mushroom

Monday, 4 February 2019

It’s fast slipping away from the lunatic RBA with every data point in Australia now swan diving. Today swooning job ads and crashing building approvals sank the Australian dollar:

Bonds loved it:

XJO too:

Big Iron is non-stop:

And Big Gas:

Big Gold is firm:

And Big Banks are sharply higher on Hayne hopes:

Big Realty too:

Meanwhile, it is farewell to the real economy.

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.