Australian dollar bashed as US/China trade talks collapse

The Aussie dollar is bouncing around at its gap down:

Bonds are heavily bid:

Stocks have recovered some ground for no apparent reason:

As S&P futures are pounded:

Shanghai smashed:

Big Iron is down:

Big Oil too:

Big Gold isn’t much better:

Big Banks are following:

But Big Realty finds a US/China trade apocalypse agreeable:

Trump tweet, China cancels trip. It appears the trade deal is deep peril.

Comments

  1. melbourneguy

    “Stocks have recovered some ground for no apparent reason”

    Plenty of reason. It’s the Aussie version of the Powell put. The inverse correlation between the rates outlook and equities has become stronger now that property is the less preferred play…. for various reasons.

    I hope they don’t cut but the higher likelihood has paid off for my equities and currency positions!

  2. TailorTrashMEMBER

    “Trade talks collapse”
    …….looks like the Americans finally are getting the hang of China

  3. Maybe Trump just isn’t the master negotiator his television show about himself told us he was?

    • NikolaMEMBER

      thinking same. Keeping an eye on how the US elites will handle Trump. My gut feeling is they will find a way to destroy him.