Australian dollar

7

Poor data, Hayne RC sink Australian dollar

DXY firmed up last night as EUR and CNY struggle: The Australian dollar sagged against DMs with poor data and the Hayne RC: It also fell against most EMs: Gold sold: And oil: But base metals have caught the reflation bug: Big miners firmed: EM stocks consolidated: Junk fell back: It is much worse in

8

America first, Australian dollar last

DXY  was firm Friday night. EUR too but CNY reversed sharply: AUD fell back against DMs: But was stronger than EMs: CFTC positioning was out for the fist time in six weeks and showed another pullback in AUD shorts to -31k shifting into Xmas. The missing reports will be dropped out over the next four

8

Australian dollar soars on dirt wings

The Aussie dollar is powering on through the afternoon: Bonds continue to misprice inevitable RBA action: Stocks are stalled: Big iron is on fire: Big gas too: Actually it’s all dirt, including gold, tossed up by the Fed for now: Banks are sagging on the Hayne pain: Realty is going nowhere: Australia’s strange bust with

18

Dovish Fed rockets Australian dollar

DXY sank last night. EUR and CNY were strong: The Australian dollar took off versus DMs: And outdid EMs: Gold powered on: Oil too: Base metals lifted: Big miners surged: EM stocks broke out: As junk took off: And Treasuries were bid: The bund curve flattened: And stocks roared: All thanks to the freshly minted

24

Morgan Stanley: RBA lost, rates and AUD to fall

From Morgan Stanley today comes some sense at last, via ForexLive. On the NAB survey: decline was led by a noticeable reduction in profitability and trading conditions the lowest level for both since mid-2014 The weak business sentiment compounds the decline in confidence we have already observed on the household side On the RBA: RBA

14

Australian dollar sags as China swoon spreads

DXY was firm overnight. EUR was stable and CNY strong: The Australian dollar was weak against DMs: And EMs: Presumably after yesterday’s NAB survey shocker. Gold was strong as we move into another Fed meet: Oil too: Base metals are still spoiling the party: Big miners are OK. Aussie bulkers flew: EM stocks are still

3

Australian dollar stalls as risk roars on

DXY was strong last night. CNY and EUR soft: The Aussie dollar slowed its advance against DMs: And was mixed against EMs: Gold eased: Oil is still bouncing: Base metals are giving a pretty good take on China. Not very excited by insufficient stimulus: Big miners are better on bulks: EM stocks are unconvincing: Same

18

Correction or end of cycle shock?

DXY got a pounding last night. EUR and CNY jumped: The AUD was slain on the crosses but held against the USD: Against EMs it was mixed: Gold signaled the Fed is done: Oil  is in free fall. The forward curve is still above $50 so spot will keep on falling: Base metals were OK:

6

A Chinese reserve currency is a bad joke

Via FTAlphaville: When China first unveiled its plans to connect more than 65 countries along a modern Silk Road in 2013, the project was met with great fanfare. The Belt and Road Inititiave (BRI), as it was later renamed, was initially hailed as “the most ambitious economic and diplomatic program since the founding of the People’s Republic”.