Australian dollar to the moon as freedom dies

David Llewellyn-Smith

Monday, 25 May 2020

The AUD is up and away this morning, recapturing the mid-65s, former resistance, now support:

Bonds have eased:

Stocks jumped at the open and the chart is still bullish:

Big Iron is loving making the rifles and cudgels of autocracy:

Big Gas too:

And Big Gold:

Big Banks are caught an L-shaped recovery tractor beam:

But Big Chunt only goes up:

There is nothing quite like the spectacle of liberal markets cheering the death of liberalism.

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.