Australian dollar hit as Sydney heads for lockdown

Monday 20 July 2020

Shes can’t take it capt’n! The Australian dollar charged out of the blocks this morning above 70 cents and then:

NSW has recorded 20 new coronavirus cases today. Sutherland Local Court has closed after a confirmed case attended last week, and attendees at a number of new venues including two Paddington restaurants and Westfield Mount Druitt have been asked to monitor for symptoms.

It’s out, I’m afraid. Lockdown will be here in two weeks if that. The AUD:

Bonds are stable:

XJO is nailed to 6000:

Big Iron is flying:

Big Gas sagging:

Big Gold strong:

Big Banks not, except CBA which has gone into mining seemingly

Big Chunt has no business left but loves it:

As Sydney locks down the shit is going to hit the proverbial.

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.