Lead balloon banks prevent ASX rebound

See the latest Australian dollar analysis here:

Macro Afternoon

The AUD is bid this morning as bulls look towards a weak NFP tonight:

But bonds are bid bigly:

The AX has failed to rebound:

Big Iron has added pennies:

Big Gas is still falling:

Big Gold is stable:

Big Banks weak as the realisation dawns that their earning power is history:

Scum is up:

Pretty soggy given US leads. I wouldn’t want to be long going into the weekend either.

David Llewellyn-Smith
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