Australian dollar

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ASX staggers as Australian dollar goes ballistic

A currency shock is being unleashed upon Australia: How high it goes is anybody’s guess. I still say low 82-83 cents with DXY falling further yet as EUR powers on. But everything is sure getting overheated. Dalian is falling: The ASX is staggering under the load. Big Iron is trying but can’t get far: Big

23

Australian dollar breaks 80 cents as Fed balks at lowflation

DXY sank last night: AUD roared above 80 cents: But could not outpace other EM currencies: Gold was firm: Base metals were mixed: Big miners too: EM stocks flew: US high yield too, EM not so much: US bonds were bid: European not so much: Stocks hit record highs again: The Fed balked at lowflation:

5

Westpac: RBA to cap Australian dollar?

Via Westpac’s Robert Rennie: The A$ is toying with top of my fair value model output – above 0.7950 its more than 1stdev above FV. RBA Debelle’s comments enough to cap? I remain of the view that the rush to EUR will still push the Aussie above 80 cents short term. But it’s splitting hairs,

28

Has the Australian dollar already topped?

Friday night saw more DXY weakness: Driven largely by EUR strength: The Aussie pulled back against both: And EM forex: Gold took off, reaffirming more USD weakness: Brent was pounded: Base metals held up: Big miners didn’t: EM stocks sold: But high yield rallied: US bonds were bought: And European: Stocks eased in the US

28

Well done, RBA, you now have the hottest currency on the planet

It’s congratulations all around as Australia’s failing post-mining boom adjustment takes another blow today from the hottest currency on the planet. Against DMs it is on fire: Against EMs it is on fire: Gold has nothing on the Aussie: Though oil pretended everything is OK for now: Base metals fell: Big miners eased: EM stocks

6

USD drives commodity pain trade 2.0

The Aussie is flying against USD and EUR:  And EMs: Gold finally rallied, giving some confirmation to further USD weakness: Brent was soft: Base metals were mixed: Big miners mostly up: EM stocks are in heaven: Tracking a rebound in high yield which is oil dependent: The Us yield curve is flattening again: European spreads

1

Westpac sings from MB’s bearish Australia hymn sheet

Nice video here of Westpac’s Justin Smirk on the outlook for China, iron ore and the Australian dollar: Absolutely right. Westpac’s AUD fair value is already stretched and getting stretcheder: The MB Fund offers you the perfect vehicle to maximise returns via a temporary rise  in the Aussie dollar in its pure international equities portfolio of 50 hand-picked stocks:

17

Australian dollar coiled spring as ASX warms

Dalian is weak today: But Big Iron firm: Big Gas has finally caught a bid as the oil short covering rolls on: Big Gold trends still look a little sad: Big Bubble is firm just because: And Big Liar: Market of the day is the AUD/USD which remains a coiled spring at long term resistance

23

Australian dollar ramps through 77 cents

Aussie dollar is on fire this afternoon, ramping through 77 cents: The drivers remain: the commodity pain trade; a weak USD and strong EUR as the former has too much tightening priced and latter not enough. These could run right through Q3. That technical pattern is a bullish ascending triangle. If the price can challenge