Australian dollar struggles with stocks

The Australian dollar is weak today and still forming a bearish descending triangle pattern:

Bonds are also picking up on more risk:

But not stocks yet:

Big Iron is soft:

Big Gas better:

Big Gold still consolidating:

Big Banks have a very strange pattern matching the whack rotation:

Big Chunt is its usual unworthy self:

It’s not the tearaway market of a few weeks ago anymore. Risk is building. But stocks and forex are still joined at the hip:

Remember those glory days when an economy meant something to its currency?

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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.