Australian dollar

11

Aussie bonds explode as RBA emergency rates to get emergencier

Wohohoho! Record low yields everywhere as RBA rate cuts are now inevitable: Short end rates have inverted more deeply but the long has steepened: Yield spreads to the US are forging back in time: Not sure my rising AUD (even short term) is going to hold up with this kind of black hole sucking at

14

Goldman: Aussie dollar to rise

I hate agreeing with Goldman, especially on Australia, where it has been horribly wrong for years (being far too bullish). To be honest, the cross-over with mine and the GS view is minimal. The RBA is going to cut. And that will pressure the AUD. But I do agree that the AUD has a good

0

Weak AUD, strong bonds trigger ASX gains

The Aussie dollar is soft this morning: Bonds are well bid on the approach of widely expected weak CPI: Which has helped push XJO to 2019 highs: Dalian is soft: Big Iron strong despite broker downgrades: Big Gas  is soaring with oil and cartel east especially strong on the news of Labor’s Beetaloo pipeline play:

5

Australian dollar belted with commosites

DXY firmed last night as EUR eased: AUD flamed and fell all the way back: EMs were better too: Gold fell: And oil: Plus metals: Big miners were hit: EM stocks too: As US junk flies: Treasuries sold: And bunds: Aussie bonds are still hung up: Stocks were roughly flat: So, the AUD still can’t

1

BOQ canary croaks on banks

The AUD is a little soft this morning: The lunatic RBA has paralysed bonds for now: XJO is down moderately: Dalian is soft: And Big Iron: Big Gas is still enjoying its deluded political risk holiday: Big Gold is mixed: Big Banks are sick: Made that way by the croaking BOQ canary which has broken

0

Westpac: Australian dollar still to fall in 2019

Via Westpac today: The Australian dollar has held within a narrow range of USD0.704 to USD0.716 over the month. Key commodity prices, particularly iron ore, have been stable over the month with spot at around US$90/t. General expectations have been for this price to adjust downwards. For example the government’s forecast for the iron ore

4

Australian dollar falls as bonds boom anew

The AUD is down all morning following still soft consumer sentiment: The bond boom is back with the three year already nearing breakout: That’s given XJO a lift: Dalian is soft: Big miners are still strong though FMG is off: Big Gas still hasn’t figured out Labor is coming: Big Gold is up: And Big

1

Chinese yuan topples Australian dollar empire!

IMF COFER data was released last week and led to some amusing analysis, via FTAlphaville: It was only a matter of time until Holger Zschaepitz, Managing Economic Editor at the German daily Welt, found himself in hot water with Alphaville’s chart-crime panel. The man is the Leonardo da Vinci of the genre. Such is his genius, he’s able to conflate

8

Goldman lifts Australian dollar outlook. Ignore it

Via Forexlive: GS expect RBA to remain on hold, as economy is staying resilient despite house market issues Australia to benefit from improving market sentiment on the Chinese economy (stimulus coming through, also potential for resolution of trade tensions with the US) Forecasts from the bank AUD/USD: three month 0.74 six months 0.75 from 0.72

7

Australian dollar universally bought

What a difference a day makes. DXY was down, EUR and CNY up: AUD was universally bought: Gold struggled: Oil too: Metals did better: Big miners continue the ascent to heaven: EM stocks look poised for breakout: Junk fell: As did Treasuries: And bunds: Aussie bonds entered the woodshed: Stocks soared on: Westpac has the

7

Australian dollar universally sold

DXY remains strong with CNY firm and EUR weak: The Australian dollar was universally sold as RBA cuts firm and Budget stimulus was minor: Gold is marking time: Oil is up and away. This is DXY bullish given the signal it sends US shale: Metals were soft: Miners are in ecstasy: EM stocks pulled back:

1

Australian dollar ignores better Aussie data

The Australian dollar waltzed right through the building approvals spike like it wasn’t even there, quite rightly given it is a rogue number: Bonds are bid after last night’s bath: The threatened ASX double top appears to have been the pause that refreshes: As Dalian rips on BHP’s news: And Big Iron goes bonkers: Big

1

Chinese reflation drives Australian dollar

DXY was up Friday night, CNY too, EUR down: AUD was up anyway: CFTC positioning remains very short at -53k contacts: Gold held on: Oil is breaking out: Metals were firm: Big miners flew: EM stocks were also firm: Junk was strong, especially US: Treasuries were hosed: The bund curve slumped: Aussie bonds were still

7

Australian dollar rides sinking euro lower

DXY is again threatening to break out as EUR and CNY fall: AUD was soft versus DM: And EM: Gold gave up: Oil too: Base metals were mostly weak: Big miners were strong: EM stocks held on: But EM junk is flashing red: Treasuries reversed a little: And bunds: Stocks lifted moderately: Eurozone inflation is