Australian dollar


Bitcoin the “high-point of techno-narcissism”

Cross-posted from James Howard Kunstler via Shoeshine boys in airports ‘round the world must be whispering about Bitcoin as the crypto-currency coils upward to tickle the $10,000 line. Ethereum’s roaring up, too, along with most other cryptos, from Byteball Bytes to Tattoocoin (Limited Edition). Whatever else you think about it, this action is sending a message, perhaps several. One


Macro Morning

By Chris Becker We’re back to new highs again on overnight markets with the S&P500 popping through 2600 points as the USD declined against the Loonie, Peso and Yen among others. The Aussie dollar had a small bounce on selling exhaustion while the Euro is on tenterhooks awaiting the outcome of failed negotiations of a


Wanna short bitcoin?

Via Bloomie: Bitcoin bears now have another way to bet on price falls. Swiss structured products houses Vontobel AG and Leonteq Securities AG started separate products on Friday that allow investors to profit if the price of bitcoin tumbles. Not that it has tumbled much lately. Bitcoin is trading at a record high and has soared more than 700


Australian dollar hit as immigration kills Merkel coalition

Via The Guardian: Exploratory talks to form Germany’s next coalition government were on the verge of collapse on Sunday night after the four parties involved missed their own deadline to resolve differences on migration and energy policy. Chancellor Angela Merkel has been trying to forge a coalition between her Christian Democratic Union (CDU), its Bavarian


Jobs boom ends, Australian dollar rises!

The ABS has released October Labour Force and the news is mixed: SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE)  Employment increased 3,700 to 12,297,100. Full-time employment increased 24,300 to 8,425,400 and part-time employment decreased 20,700 to 3,871,700. Unemployment decreased 8,100 to 701,500. The number of unemployed persons looking for full-time work remained steady at 485,900 and the number


Australian dollar pounded to new lows

DXY was stable last night: But AUD got hammered to new correction lows anyway: It was mixed against EMs: Gold was stable: Brent eased: Base metals firmed: Big miners fell anyway: EM stocks are looking toppy: Junk held but has not rebounded: US yields hit new highs at the short end: European spreads were stable:


How to position your money for the coming Labor government

That’s the question the AFR asked on the weekend, sensibly enough, given it is a near certainty: The newest of Shorten’s policies is a 30 per cent minimum tax rate on distributions to the adult beneficiaries of discretionary or family trusts. With farms exempt, the change will affect 2 per cent of taxpayers and 318,000


Bitcoin lunacy mushrooms with futures

There is nothing like a pyramid scheme and bubble that adds a futures market to bet on it: CME announced Tuesday it plans to launch bitcoin futures in the fourth quarter, pending regulatory review. Bitcoin rose to a record high above $6,400 Tuesday morning, according to CoinDesk, after the announcement by the world’s largest futures


ANZ downgrades Australian dollar accidentally

From ANZ today via ForexLive: USD does not have a compelling story to drive it sustainably in either direction We think the currency market’s focus needs to shift from being completely USD-centric to focussing on the drivers of risk appetite That framework dominated before the 2008 crisis, and it will likely dominate once again With


RBA warns on cryptocurrencies

Via the RBA Friday in parliament: We note that Committee members have expressed interest in digital currencies or cryptocurrencies. This, and the broader area of distributed ledger technology, is a topic that the Bank has been monitoring closely over recent years. There have been substantial increases in the prices of cryptocurrencies like bitcoin and ether