Australian dollar mashed into 0.66s by economic dead weight

David Llewellyn-Smith

Tuesday, 3 September 2019

The Australian dollar is right at the post-GFC lows again this afternoon in the 0.66s:

Bonds are still doing nothing:

Stocks have eased:

Dalian has held overnight gains:

Big Iron doesn’t believe it:

Big Gas is sideways:

Big Gold is holding up well as DXY powers into higher airs:

Big Banks have rebounded as the economy sinks:

Big Realty is plodding:

Bring on the RBA which will almost certainly stuff it and send the AUD straight back up.

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.