Australian dollar sags with Asian PMIs

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So much for trade war relief. The triptych of bad Asian PMIs knocked the stuffing from the Australian dollar after it gapped up at the open this morning:

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Aussie bonds were sold then bid:

But stocks are in no doubt as S&P futures fly:

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And XJO follows:

Dalian is up too:

So Big Iron is leading:

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Big Gas is up with the OPEC deal:

Big Gold is presenting a buying opportunity:

Big Banks are mixed:

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Big Realty is up:

The ways of the market are now so thoroughly gaslighted by El Trumpo he could launch a nuclear strike on Planet Earth and stocks would soar.

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.