Australian dollar

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Australian dollar hammered as China bans Aussie coal

Well, don’t say we didn’t warn you. Via Reuters: Customs at China’s northern Dalian port has banned imports of Australian coal and will cap overall coal imports for 2019 through its harbours at 12 million tonnes, an official at Dalian Port Group told Reuters on Thursday. The indefinite ban on imports from top supplier Australia,

3

Chinese credit explosion launches Australian dollar

DXY was weak Friday night. Unusually, so was EUR: The Australian dollar jumped against the USD but held elsewhere: CFTC data is still lagging badly but mid-January numbers still had the AUD moderately short at -37k contracts: Gold jumped: Oil took off: Base metals too: And big miners: EM stocks were surprisingly subdued: But junk

1

Australian dollar remains bound to Euro’s fate

DXY softened a touch last night as EUR firmed: The Australian dollar was weak against DMs: But strong against EMs: Gold firmed: Oil too: Base metals are giving reflation the bird: Big miners were mixed: EM stocks flat: And junk: Treasuries bid big: The bund curve keeps flattening: Stocks were flat: The big data release

10

HSBC buries Bloxo: Australian dollar to 66 cents

Where’s the ever bullish Bloxo? Via HSBC: “While the [global] risks appear to have receded for now, this may be masking the growing risks from the second, which is gathering momentum and deserves more attention. “The deceleration in the flow of housing credit has been evident since at least early 2018 but has only recently

14

Australian dollar pumps and dumps on mortgage crash

The Aussie dollar did a round trip this morning as it misinterpreted today’s data dump. The NAB business survey rebounded modestly which took the AUD higher but ABS mortgages absolutely plunged and, frankly, are suggesting firmly that Australia is in the grip of house price crash: Business conditions are obviously a trailing indicator versus that

10

RBA trashes economic outlook, Australian dollar

Funny bastards! February SoMP shredded: Growth shredded by much more than has been previously mooted but still not enough! Then a magical rebound.  Check out the new headline inflation number for June 2019 at 1.25%. They’ve covered over this shocker by elevating core inflation. Then another magical rebound! Someone has finally recognised that the data flow

8

NZ unemployment jump whacks Australian dollar again

NZ Stats surprised with rising unemployment this morning versus expected flat: Unemployment rate rose to 4.3 percent Underutilisation rate rose to 12.1 percent Employment rate fell to 67.8 percent Filled jobs rose 1.3 percent Average ordinary time hourly earnings rose to $31.63 Wage rates increased 1.9 percent annually. The NZD took a pounding dragging the

9

Australian dollar pole-axed as Europe crumbles

DXY jumped last night as EUR crumbled: The Australian dollar was pole-axed against all DMs: And EMs: Gold fell: Oil firmed: Base metals flamed out: Big miners held on: EM stocks let go: US and EM junk eased: Treasuries were bid: The bund curve keeps flattening: Stocks softened: The evening’s data was dominated by the

15

Bonds boom as RBA breaks

The Aussie dollar is still falling after the RBA buckled today: Bonds are booming and breaking out: XJO is enjoying the lower dollar: Big Iron is running. This is the monthly chart. I’m wondering now if RIO won’t charge a record high before the crash: Big Gas is down on the US inventory build: Big

7

Poor data, Hayne RC sink Australian dollar

DXY firmed up last night as EUR and CNY struggle: The Australian dollar sagged against DMs with poor data and the Hayne RC: It also fell against most EMs: Gold sold: And oil: But base metals have caught the reflation bug: Big miners firmed: EM stocks consolidated: Junk fell back: It is much worse in

8

America first, Australian dollar last

DXY  was firm Friday night. EUR too but CNY reversed sharply: AUD fell back against DMs: But was stronger than EMs: CFTC positioning was out for the fist time in six weeks and showed another pullback in AUD shorts to -31k shifting into Xmas. The missing reports will be dropped out over the next four