Australian dollar

3

RBC: Australian dollar has not priced China weakness

Via RBC: High frequency data in China have disappointed in recent month loss of momentum in activity emerging tighter credit conditions Some policy easing has already occurred with the likelihood that more will be delivered. Chinese policy settings are moving in the opposite direction to the G7 Could it trigger some speculation that the RBA’s

38

BIS: Bitcoin is an “environmental disaster”

The Bank of International Settlements is out with a new assessment of cryptocurrencies. It does not pull its punches: …a key potential limitation in terms of efficiency is the enormous cost of generating decentralised trust. One would expect miners to compete to add new blocks to the ledger through the proof-of-work until their anticipated profits

8

ECB smashes Australian dollar

EUR cratered last night and DXY took off: AUD was slammed against developed markets (DMs): And weaker than emerging markets (EMs): Gold held on: Oil was flat: Base metals mixed: Big miners fell: EM stocks look ominously poised for lower: As EM junk leads the way down. Even worse for EM, US junk is recovering!

17

Bitcoin’s founding ponziteers cash out

Via The Guardian: There has been a sharp drop in the price of bitcoin and other virtual currencies after South Korean cryptocurrency exchange Coinrail was hacked over the weekend. A tweet from Coinrail confirming the cyber-attack sent the price of bitcoin tumbling 10% on Sunday to two-month lows. The world’s best-known cryptocurrency lost $500 (£372)

18

Is the Australian dollar a safe haven currency?

I can’t believe I’m still addressing this question but here we go again, via the AFR: The Australian dollar is perceived to be a fair-weather currency, tending towards strength when investor risk appetite is high and the global economic outlook is benign. On the other hand, the $A tends towards weakness when investor risk appetite