Australian dollar to the lows as bank short squeeze flames out

David Llewellyn-Smith

Thursday 23 May 2019

The Australian dollar is sitting right at three years lows this morning:

XJO is down moderatly:

As bonds boom:

Dalian is soft and Big Iron is mixed:

Big Gas tracking oil:

Big Gold mixed too:

The Big Bank short squeeze has flamed out:

Big Realty is pricing in recovery!

S&P futures are down too as trade frictions intensify. Watch oil for contagion.

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.