Trade boom lifts Australian dollar

David Llewellyn-Smith

Thursday, 7 March 2019

The Australian dollar has lifted from the canvas this morning on Australia’s epic commodities trade surplus:

Bonds are still bid as retail failed:

XJO is running wild as the asteroid approaches:

Dalian is soft again:

Big Iron bashed as Rio goes ex-div:

Big Gas is soft with oil:

Big Gold is trying. Still not a fan:

Banks continue to climb on the yield trade:

Indeed, everything interest rate sensitive is up today:

‘Tis a strange world in which markets bull up on collapsing domestic demand.

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.