Australian dollar

2

How high for the Aussie dollar now?

From NAB before today’s jobs release: Price broke down from its broad 2016 triangle in Q4 2016 and challenged the bottom of the nine-month range and our downside target at 0.7150/00 in December. The response to nine-month lows at 0.7150/00 was positive however, setting up an impulsive bullish reversal towards one-year range highs above 0.77

48

Macro Afternoon

by Chris Becker It’s been a mixed day in Asia with short covering and delusion over iron ore in Australia overshadowed by minor falls across the rest of the region. In mainland China the Shanghai Composite slid on the triple data release with FAI numbers spooking a little, sending the market down 0.7% to 3129

57

Australian dollar headed for “all-time lows”

From CME Group senior economist Erik Norland: The Aussie has dropped 35 per cent or so off its highs, but that doesn’t necessarily mean that it has finished dropping. “Where the currency is trading now doesn’t look particularly aberrant either up or down. The Australian dollar could revisit it’s all-time lows…the risks are there: either

16

How will central banks govern ponzicoin?

From Tony Yates Professor of Economics at the University of Birmingham via FTAlphaville: The agreed protocols that govern Bitcoin are effectively its monetary policy. In exchange for expending computing power to verify the legitimacy of transactions and record them, Bitcoin “miners” get paid in Bitcoin. (This is roughly analogous to seigniorage income.) These rewards increase the

41

Why the Australian dollar is going to 40 cents

Via Macquarie: Australia-US bond yield differential going negative?  We think there is an even chance that Australian-US sovereign bond yield spreads fall below zero across the entire term structure (both short and long end) and potentially remain this way into late 2018. This was our expectation at the short end, but the rally in

5

Rise of the crypto-currency “smart ponzi”

From a new academic paper: The advent of Bitcoin [3, 12] has given birth to a new way to exchange currency, allowing secure and (almost) anonymous transfers of money without the intermediation of trusted authorities. This has been possible by suitably combining several techniques, among which digital signature schemes, moderately hard “proof-of-work” puzzles, and the

11

Ponzicoin could go to million or zero

Exactly right: And this: Bitcoin is the original cryptocurrency, and its meteoric rise has made it a mainstay of conversation for investors, media, and technologists alike. In fact, the innovation of the blockchain is changing entire markets, while causing ripples with central banks and the financial industry. At time of publication, the bitcoin price now

19

Australian dollar hit as Moody’s downgrades China

Moody’s turns interesting: Moodys downgrades China to A1 from AA3 Changes outlook to stable (from negative) Says rating reflects expectations that China’s financial strength will erode somewhat over the coming years Says stable outlook reflects assessment that at the A1 rating level risks are balanced GDP will remain very large ; growth will remain high