Australian dollar sags as GDP shocker sinks in

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The always bid in Asian time Australian dollar is sagging this afternoon as the unfolding GDP shocker sinks in:

Bond yields are back at the lows but won’t break lower despite not fully pricing what’s ahead:

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XJO is up a little but does not look well with those little lower lows:

Dalian is down:

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It’s amusing watching Big Iron learn nothing from 2015:

Big Gas is mixed:

Big Gold is BTFD:

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The Big Bank bear is back and growling:

Big Realty exists in a Scummo safe zone:

There’s a good chance that the AUD will be more heavily beaten up as London comes in later this afternoon. It often has a much better grasp of macro drivers than Asian markets do.

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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.