The Australian dollar is a little bid this morning, as it nearly always is in Asian time, but there is no mistaking the bearish descending triangle. A break of 70 cents opens the way for big downside:
The bond curve is steeping as inflation disappears. Go figure:
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.