Australian dollar mashed into 0.66s by economic dead weight

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.

Comments

  1. From Craig James (CommSec Chief Economist):

    Important to note that the slowdown of the Australian economy in 2019 has been just part of a global slowdown caused by US-China trade stoush, rather than a domestically generated slowdown

    Yep, booming exports is the reason for our slowdown… what else would we expect from a prominent Australian economist?

  2. Mashed?

    Is that different to smashed?

    Some folks get very very exited by words like that.

    Perhaps we could adopt a system of descriptions that reflect the movement and the expected permanence of the movement.

    For example:

    Squished could be a 0.25 cent movement that is not expected to be sustained.

    Mashed could be a 0.5 cent movement that is expected to be sustained for 6 months

    Smashed could be a 0.75 cent movement that is expect to be sustained for 12 months.

    Flattened by a fat bottomed water buffalo could be a 1 cent movement that will be sustained for more than 12 months.

  3. Rats i was hoping for the “positive” gdp print to rocket the aud.. argh why is it NOW that the pooo is rational.