Australian dollar

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Australian dollar rocket still hot

DXY is trying to find traction but without much success yet: AUD remains hot against DMs: Less so against EMs: Gold is also sniffing around for DXY strength: Oil was firm: Base metals too: Big miners were soft: EM stocks weren’t: Junk fell: US yields rose and the curve steepened: Bunds are stuck still: Stocks paused:

12

Is North Korea behind the Bitcoin crash?

Cross-posted from FTAlphaville: Note: this is just a theory. One of those of things that pops into your head when you’re in the shower after a long run. It may be nuts — and we certainly can’t prove it — but it happens to be consistent with publicly-available information. Part 1: The North Korean regime

78

Bitcoin crash intensifies

It’s turning nasty for BTC with $10k now history: A note from Capital Economics is uncharacteristically blunt: Claims that cryptocurrencies will replace established fiat currencies are rubbish; our view is that Bitcoin is a bubble. Indeed, the latest price falls suggest that the bubble is bursting – although with prices still ten times higher than

24

Joke cryptocurrency passes $2bn

Via Motherboard: Jackson Palmer is an Australian entrepreneur and technologist best known for creating the infamously successful “joke” cryptocurrency Dogecoin. Currently based out of San Francisco, Jackson works as a product manager but is still active in the cryptocurrency space. Jackson has holdings in various cryptocurrencies, including less than $50 worth of Dogecoin. You can

19

Fundie: Sell Bitcoin

So says fundie Michael Glennon: When I start to see retailers accepting bitcoin or utility companies accepting it then I will believe that it’s not just a quasi-ponzi scheme, selling something that has no value. It’s a currency that doesn’t do anything, is not backed by any sovereign nation, is not accepted anywhere, is hard

10

NAB: Australian dollar to fall in 2018

Via NAB: The underpinnings of the current uptrend are likely to be eroded as 2018 progresses leading NAB to keep their forecasts for the Aussie Dollar bearish. The Australian Dollar’s recent rally has been built on a combination of factors, including rising commodity prices, M&A flows, demand for bonds and rising risk appetite, but will

32

Webinar: Bitcoin or Bitcon?

Enjoy: ———————————————————————– David Llewellyn-Smith is chief strategist at the MB Fund which is currently long local bonds and international equities that offer superior growth and benefit from a falling AUD so he is definitely talking his book. Here’s the recent fund performance: Source: Linear, Factset The returns above include fees and trading costs on a

21

Bill Evans: Australian dollar to slump

Via Westpac: We confirm our forecast that the AUD will drift even lower in 2018 ending the year at around USD 0.70. Readers will be aware that one core driver of this expected deterioration in the AUD is our view that the overnight yield differential between Australia and the US will narrow significantly. Our target

64

Bitcoin’s heart of darkness exposed

Some months ago, FTAlphaville’s Izzy Kaminska wrote the following: Once upon a time, eurodollars were dollar-like liabilities issued by non-US entities outside of the reach of regulations that usually govern dollar-issuing entities. No minimum reserve requirements, no access to lender of last resort and no registration applied. Most of the time the assets which underpinned

15

Morgan Stanley top trade for 2018: Sell Australian dollar

From Morgan Stanley today: We see the RBA firmly on hold in 2018 as the headwinds from a consumer crunch and evolution of a housing slowdown prevent Australia from joining the global tightening bias to monetary policy. The lack of carry for the Australian dollar makes rates differentials and rate expectations much more important in driving near term

5

Barclays: Australian dollar worst of the G10 ahead

Via Barclays: We see AUD under-performance against G10 currencies. Australia’s growth and inflation are likely to remain subdued. Given its late-cycle position, secular adjustments in the commodity sector and downside risks to construction activity and investment. The AUD remains overvalued and its carry advantage over the USD is likely to continue to narrow, with the

16

If Bitcoin succeeds, the planet dies

Via The New Daily: The Bitcoin frenzy currently gripping the world is taking an unexpected toll on the planet – in the form of a carbon footprint almost as big as New Zealand’s. And with the cryptocurrency’s astronomical growth showing no sign of slowing, this carbon footprint is likely to grow – prompting some commentators to

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How the Bitcoin pyramid bubble will proceed

It’s an eternal story of greed and loss: By the middle of the first decade of the twenty-first century, the psychology of the boom was well established. After multiple years of strong growth and rising asset values, risks seem to diminish in financial markets. The gambler has thrown the dice a number of times, and

103

Bitcoin is sub-prime currency

The pyramid scheme can always collapse very easily because it relies exclusively upon finding ever greater numbers of fools to keep it rising in price. Usually that’s represented as a pyramid with ever greater numbers required at the base as it grows. But, in truth, it should be represented as in inverted pyramid with ever