Australian dollar

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Wolf of Wall St says crypto “biggest scam ever”

You don’t say, via the FT: Jordan Belfort, the former penny-stock broker immortalised in the film, The Wolf of Wall Street, has dismissed the current craze for initial coin offerings as “the biggest scam ever” that is bound to “blow up in . . . people’s faces”. The warning comes after ICOs — which raise funds online by selling investors digital

10

Is King Dollar back?

DXY was strong last night and it’s head and shoulders bottom is near perfect if it breaks out: AUD was weak against USD, firm against EUR: It was strong against EMs: Gold was pummeled: Brent is still strong: The base metals lunacy flamed out: As did big miners: And EM stocks: High yield is stable:

37

Do we need a crypto-Aussie dollar

Did the weird just turn super boring? A group of fintech start-ups have submitted cases to the Reserve Bank of Australia and the federal Treasury to demonstrate the need for a new government-endorsed Australian dollar cryptocurrency. “The Digital Australian Dollar would be a huge step to grow our vibrant blockchain and digital currencies industry,” said FinTech

10

Australian dollar catches hedge funds pants down

Via Bloomie: Goldman Sachs Asset Management is clashing with speculators in a wager on a weaker Australian dollar, just as those hedge funds top up bets on the currency appreciating. Philip Moffitt, the Asia-Pacific head of fixed income at Goldman Sachs Asset Management, sees the dollar Down Under falling as the country’s central bank raises interest

0

Australian dollar remains weak

DXY was soft last night but a little more weakness will set up a beautiful inverse head and shoulders bottom: AUD was weak anyway against both USD and EUR: But better against EMs: Gold was stronger, again underlining AUD softness: Brent firmed: Base metals too: EM stocks were stable: But high yield took a hit:

3

Catalonia not so good

Via Deutsche: Why is the referendum illegal? The Spanish Constitution states that Spain cannot be broken up. The Article 2 in the preliminary part of the Constitution states: ” The Constitution is based on the indissoluble unity of the Spanish Nation, the common and indivisible homeland of all Spaniards”. The Spanish Constitutional Court suspended the

20

Does Catalonia matter?

It had better not because it is leaving Spain: Catalonia will move on Monday to declare independence from Spain after holding a banned referendum, pushing the European Union nation toward a rupture that threatens the foundations of its young democracy. Catalan President Carles Puigdemont said he favored mediation to find a way out of the

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Morgan Stanley: Sell Australian dollar

Via MS: Limit Order (28-Sep-17) Entry: NY Close 28-Sep-17; Target: 0.7500; Stop: 0.7960 The rates market have priced in two RBA hikes for the next 12 months which we find to be overly aggressive given highly levered Australian households and weak medium and long-term fundamentals. We think it is worth fading against this breakout in

14

Catalan freedom fighters hit Australian dollar

The butterfly flaps its wings, via the FT: More than 2m people defied Spanish government attempts to halt Catalonia’s referendum on Sunday, with 90 per cent of those who voted backing independence, according to the regional government. Late on Sunday, Jordi Turull, the Catalan government spokesman, released preliminary results showing that 2.26m votes had been

6

ECB blows air into Bitcoin bubble

Via Coindesk: Mario Draghi, president of the European Central Bank (ECB), has indicated that his institution does not have the authority to regulate cryptocurrencies. Making his statements to the European Parliament’s Committee on Economic and Monetary Affairs, Draghi said that “it would actually not be in our powers to prohibit and regulate” bitcoin and other digital currencies. The comments came in

25

Australian dollar technical analysis

Via NAB: Trend Price has traded in a broad triangle since the low of early 2016 that has neither confirmed nor rejected the multi-year downtrend. The July break above two-year range highs at 0.7835 and the 2016/2017 trend resistance at 0.7700/30 was the first piece of information in this period that has confirmed a decisive

1

German election undermines the Euro

Via Barclays: If confirmed, the surprising gains by alternative parties and poor performance of the centre establishment parties in Germany’s election subtly reinserts politics into the debate over the EUR’s value. Most of the EUR’s gains have come since the French election, with many pointing to the reduction in perceived political risks to the EU and