Weak China PMI slaps down Australian dollar

The Aussie dollar took a bit of pain following the sagging Caixin China PMI:

Bonds are bid:

XJO is not:

The iron ore rally has reached hysterical proportions. There will be no shortage of it this year as Rio Minas returns, Vale manages its spare capacity, the Pilbara pumps a bit more and China slows:

It’s a good time to take profits on these:

Big Gas is down:

Big Gold is mixed:

Big Banks still in the Hayne pain:

Big Realty looks a bit more perky perhaps sniffing an RBA capitulation:

She’s all over the place.

Share

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.