Australian dollar fades as bonds find new highs

The Aussie dollar is still struggling this morning following very weak Chinese credit data:

XJO is down modestly. Way too early to call it, but it’s a nice set up for a double top:

Bonds continue to probe new highs. Miles ahead to go:

Dalian has pulled its usual Costanza act at the open on the terrible Chinese data:

Big Iron is down anyway:

Big Gas is getting the treatment as Norway’s SWF exits oil and gas:

Gold is up. Still skeptical:

Big Banks are down just because:

Same for Big Realty:

Thin holiday trade.

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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.