Australian dollar hits 0.67

See the latest Australian dollar analysis here:

Macro Afternoon

A new post-COVID high for the AUD this morning:

Bonds are stable:

XJO is soft with S&P futures:

Big Iron is up and away:

Big Gas is struggling to believe:

As is Big Gold:

Big Banks are undoing the surge:

A Big Chunt struggles:

Westpac’s fair value model has lifted a little but remains well below 67 cents:

But that’s the rub as we pour out demand stimulus into superior virus performance. AUD up for now.

It will be interesting to see how stocks take the US disintegration. Europe has done much better with the virus, though not as well as east Asia, so we’ll need to see global growth “decoupling” from the disastrous US if risk is to keep piling it on.

Not impossible. Stocks would believe my farts are supportive of valuations today.

David Llewellyn-Smith
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Comments

  1. I wouldn’t touch this with a barge pole now, but it will be an amazing shorting opportunity.

  2. GunnamattaMEMBER

    Stocks would believe my farts are supportive to supportive valuations today.

    Could you tell me what you ate last night so I can adjust the settings of my leading fart index?

  3. ok.. trying again.. just bought some EEU – Euro ETFs. Now watch AUD jumping 25%.