Australian dollar


Australian dollar tumbles with risk rally

DXY eased last night as EUR held on and CNY was soft: The Australian dollar was smashed across the board: Gold firmed: Oil survived a huge US inventory build: Base metals were soft: Big miners mixed: EM stocks weak: And junk: Treasuries were bid: The bund curve was pounded again: And stocks gave up the


Australian dollar briefly bashed by weak GDP

The Australian dollar was briefly bashed by weak GDP before catching another bid. Every recent dip has been bought, presumably on some wayward global reflation trade (incorporating a US/China trade truce). Even so, the battler is forming a distinctly bearish descending triangle pattern: Bonds soared on crapola GDP and also appear posed to break out: XJO


El-Erian: US growth leadership to persist

Via Reuters: “People are underestimating how quickly Europe is slowing,” El-Erian said. The International Monetary Fund revised down its forecast for euro zone growth to 1.6 percent in January from 1.9 percent three months prior, but El-Erian thinks even the lowered outlook is overly optimistic. El-Erian, the former chief executive of Pimco, the bond investment


Caixin China services PMI sinks Australian dollar

The Caixin China services PMI just missed big: Summary – Services and Composite PMI data The Caixin China Composite PMI™ data (which covers both manufacturing and services) indicated a softer rise in Chinese business activity during February. At 50.7, down from 50.9 at the start of 2019, the Composite Output Index pointed to a marginal expansion


Australian dollar defies data crash

The Australian dollar just won’t take the hint today as Australian data deteriorates fast though it has formed something of a bearish descending triangle pattern: It’s bad news is good news for the ASX as local profits fall away as well and the bourse piles it on: But for that to make sense bond yields


Australian dollar smashed again as risk retreats

DXY firmed last night as EUR fell: It was wall-to-wall Australian dollar carnage: Gold was bashed: Oil eased: And base metals: Big miners fell at last: EM stocks too: But junk was OK: Treasuries pulled a Costanza: As did bunds: Stocks fell: The global industrial economy is slowing fast as Chinese demand fades away. Europe


Australian dollar hammered as China bans Aussie coal

Well, don’t say we didn’t warn you. Via Reuters: Customs at China’s northern Dalian port has banned imports of Australian coal and will cap overall coal imports for 2019 through its harbours at 12 million tonnes, an official at Dalian Port Group told Reuters on Thursday. The indefinite ban on imports from top supplier Australia,


Australia dollar marks time on neutral Fed

DXY fell last night as EUR and CNY rallied: The Australian dollar marked time: But was down versus EMs: Gold eased: Oil rose again: And base metals: Big miners loved it: EM stocks firmed: And junk: Treasuries were sold: And the bund curve flattened again: Stocks added a little: The Fed’s patience was very clear


Europe and China launch Australian dollar

DXY sank last nigh as CNY and EUR rallied: The Australian dollar jumped across the board: Gold pumped too: Oil firmed: Even copper joined the party: Big miners powered: EM stocks lifted: Junk led the way: Treasuries were bid: And bunds: So too stocks: It was an evening dominated by three news points. The first


Australian dollar slumps despite commodities

DXY was still soft last night as EUR rallied: Even so, the Australian dollar copped it across the board: Gold broke out: Oil is still charging as hedgies occupy the Venezuala hole: Base metals were mixed: Big miners too: EM stocks have stalled: Junk was OK: US markets were closed and the German curve flattening


Australian dollar remains bound to Euro’s fate

DXY softened a touch last night as EUR firmed: The Australian dollar was weak against DMs: But strong against EMs: Gold firmed: Oil too: Base metals are giving reflation the bird: Big miners were mixed: EM stocks flat: And junk: Treasuries bid big: The bund curve keeps flattening: Stocks were flat: The big data release


HSBC buries Bloxo: Australian dollar to 66 cents

Where’s the ever bullish Bloxo? Via HSBC: “While the [global] risks appear to have receded for now, this may be masking the growing risks from the second, which is gathering momentum and deserves more attention. “The deceleration in the flow of housing credit has been evident since at least early 2018 but has only recently


Australian dollar pumps and dumps on mortgage crash

The Aussie dollar did a round trip this morning as it misinterpreted today’s data dump. The NAB business survey rebounded modestly which took the AUD higher but ABS mortgages absolutely plunged and, frankly, are suggesting firmly that Australia is in the grip of house price crash: Business conditions are obviously a trailing indicator versus that


Australian dollar continues to fall with Europe

DXY was strong Friday night. EUR was weak: The Australian dollar kept falling against DMs: And EMs: CFTC positions updated to early January were shorter at -37k contracts: Gold is hanging onto its new trading range: Oil firmed: Big miners eased: EM stocks too: US and EM high yield fell: Treasuries were bid: Bunds too:


RBA trashes economic outlook, Australian dollar

Funny bastards! February SoMP shredded: Growth shredded by much more than has been previously mooted but still not enough! Then a magical rebound.  Check out the new headline inflation number for June 2019 at 1.25%. They’ve covered over this shocker by elevating core inflation. Then another magical rebound! Someone has finally recognised that the data flow


NZ unemployment jump whacks Australian dollar again

NZ Stats surprised with rising unemployment this morning versus expected flat: Unemployment rate rose to 4.3 percent Underutilisation rate rose to 12.1 percent Employment rate fell to 67.8 percent Filled jobs rose 1.3 percent Average ordinary time hourly earnings rose to $31.63 Wage rates increased 1.9 percent annually. The NZD took a pounding dragging the


Australian dollar pole-axed as Europe crumbles

DXY jumped last night as EUR crumbled: The Australian dollar was pole-axed against all DMs: And EMs: Gold fell: Oil firmed: Base metals flamed out: Big miners held on: EM stocks let go: US and EM junk eased: Treasuries were bid: The bund curve keeps flattening: Stocks softened: The evening’s data was dominated by the


Bonds boom as RBA breaks

The Aussie dollar is still falling after the RBA buckled today: Bonds are booming and breaking out: XJO is enjoying the lower dollar: Big Iron is running. This is the monthly chart. I’m wondering now if RIO won’t charge a record high before the crash: Big Gas is down on the US inventory build: Big