ASX candle snuffed by Australian dollar gale

The Lunatic RBA has what it wants, a deflationary atom bomb:

Bonds are well bid but the Lunatic RBA should launch an Operation Twist immediately to crush the long end to take the pressure off the AUD. The overly steep curve is like a red rag to a bull:

ASX is taking it in the team today with broad losses:

Including Big Iron despite strong price action:

Big Gold despite strong price action:

Big Oil has it coming:

And Big Banks look positively ill:

The AUD gale is snuffing out XJO.

Well done Loon!

David Llewellyn-Smith

Comments

  1. I think if gold holds this 2000 level for a med term sell off, think it’ll drag ASX down and AUD to follow

    I (think) we may see a 4 handle in AUD this half, (next 6 months) and ASX to test 2020 March lows 4400 area
    Depends on Gold but feels over bought

    That being said. I think DLS has been best all the way up in AUD & Gold

    RBA are useless

    And for everyone on here that thinks RBA and Government will save them are going to be severely disappointed

    Let’s watch gold closely here, that monthly weekly chart looks like TESLA too

    It all feels ominous to me

    I’ve got hit caution ahead

  2. I dumped all my physical gold and silver today. The price action feels a bit Bitcoin Dec-17 to me. Might live to regret that decision.
    The US market will go through hell in the run up to the election.

    I feel like the Dems and Wall Street will crash the market to avoid another Trump term in the White House.

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