ASX bath of blood spills over in retest of 2020 lows

See the latest Australian dollar analysis here:

Macro Afternoon

The Australian dollar is down a little after the Loon spake:

Stupidly, the Aussie curve is still steepening:

XJO is rolling into a swan dive. A retest of 2020 lows at the headline level is big call from here but support in the low-5000s looks attractive:

Big Iron is off to the woodshed:

Big Gas does look like it might retest 2020 lows:

The Big Gold correction is not over:

And Big Banks appear destined to retest 2020 lows:

Quite rightly as withdrawn support eviscerates Fakeflation and unleashes bad debts.

David Llewellyn-Smith
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Comments

  1. – “Stupidly the yield curve is still steepening” ?????? The yield curve steepening is actually a sign of shrinking “risk appetite” among investors. I thought that a bright guy like David Llewellyn-Smith would understand that by now.