Australian dollar rockets on dodgy China data

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The AUD is off and running, bursting above 0.72 for the first time in two months:

Bonds are selling too:

XJO does not like it:

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Dalian is hit by Brucutu:

So is Big Iron. If this gets going it could be a decent buy:

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Big Oil is serene in the face of growing political risk:

Big Gold is mixed. A short term buy here has merit given DXY may well weaken:

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Big Banks are running hard on imminent easing. They are massively overvalued by gotta get that yield:

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Same for Big Realty:

There’s change afoot. A can see AUD running up to mid-0.75s in the short term. That’s why we rebalanced cash and bonds yesterday.

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.