The RBA is about effective as a flee in a gale right now. The AUD has been bashed through the morning following the RBNZ beaut plus Chinese industrial profits falling the most since 2011:
Bonds have hit all new highs at the long end as the deflationist RBA holds up the short:
The result is a fast flattening curve beginning to sing shrilly of recession:
Needless to say, XJO doesn’t like it:
Dalian is a nothing burger but Big Iron is up:
Big Gas is mixed:
Big Gold down:
Big Banks are sinking:
Big Realty is mixed with REA targeting as retest at $70 within a bearish descending triangle:
A whiff of panic today.
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Macro Afternoon
A sea of red across Asian stocks markets
Australian dollar still bid on Chinese stimulus
DXY was down last night with EUR and CNY
Macro Afternoon
Mixed conditions across Asian stocks markets
Australian dollar rockets on dodgy China data
The AUD is off and running, bursting above 0.72
REA looks like a massive H&S top
Too true Mr Pong.
Zomg this is brutal! It truly was “CRUSHED” to 0.7104, just like it was “SLAMMED” to 0.7102 last week and “FLUSHED” the week before that! Why won’t this poo flush AMIRITE!?!
https://www.macrobusiness.com.au/2019/03/australian-dollar-slammed-global-stocks-bonds-soar/
Half cent is goodly move. Got have some sizzle to get you to read.
Yes I agree that there needs to be a bit of restraint used because, aside from feeling like being on an emotional roller coaster, the sizzle is becoming meaningless.
Stay tuned for “CUDGELLED” next week!
Tell google that. I don’t make the rules…
How about spanked or whipped?
Might bring in a whole new demographic.
I love the verbs. Can’t wait to see what we get when something really unprecedented happens and it goes down a cent and a half …!
I would have called a half cent move in the AUD quite significant, almost a crushing
..
AUD crushed, smashed, bashed, hammered etc….. But its still where it was 4 years ago. I love you guys
AUD crushed, smashed, bashed, hammered etc….. But its still where it was 4 years ago. I love you guys
But it sells newspapers… LOL