Australian dollar smacked as China stoush explodes

The Australian dollar has reversed its overnight gains as the China stoush explodes:

Bonds are bid:

XJO is struggling to hold its breakout line:

Big Iron is soft. If push comes to shove for iron ore blockades then it’s the marginal juniors that are in the gun:

Big Gas is recovering:

Big Gold is firm:

Big Banks are in a classic L-shaped recovery. Anyone that can explain to me how the credit-addled Aussie household will recover without the banks, I’m all ears:

Big Realty seems to know. Or maybe it’s just rising because there’s no more house prices to bother it at all:

Mostly I still think that this China brouhaha is rhetorical, sadly.

David Llewellyn-Smith
Latest posts by David Llewellyn-Smith (see all)

Comments

    • GeordieMEMBER

      You’d want to see the bad debt washing out of the system, i.e. the damage being done in real time to their balance sheets, before you look to buy in my opinion. If we somehow get through this without a financial crisis, would you buy them in a zero-growth, ZIRP world? Probably not.

Leave a reply

You must be logged in to post a comment. Log in now