by Chris Becker
The latest retail sales data has temporarily paused the end of week selloff in Australian dollar, as the US unemployment print tonight remains in sight as a continued divergence for USD holders. The Pacific Peso has blipped 20 pips higher from its very tight current trading range:
The weekly trend remains down, with little chance of seeing that 70 handle again, as the AUDNZD proxy also continues its decline to a yearly low:
Meanwhile, the PBOC has firmed onshore Yuan again, now down to 6.9351 with offshore Yuan trading at another handle below that level, part of a big firming in Yuan that’s been going on for months. Not sure if that helps the next round of trade talks with the US:
Talking about manipulated currencies, Bitcoin looks set to finish the week well below the $8000 level after spiking on the intiail response to the US/Iranian crisis:
But when it comes to stocks – yeah baby! It only took 13 years, but the ASX200 is back to its 2007 nominal high and officially ends its secular bear market, with the All Ordinaries hitting 7000 points for the first time:
Come on RBA, you need more goosing come February – and why do you still have January off?