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:
XJO is up a little but does not look well with those little lower lows:
Dalian is down:
It’s amusing watching Big Iron learn nothing from 2015:
Big Gas is mixed:
Big Gold is BTFD:
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.
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.