Australian dollar

10

Mrs Watanabe brings home the bacon

One reason why Australian stocks and the dollar are struggling became a little clearer this morning. And it has little to do with Australia or US tapering. Japan released its weekly foreign stock and bond buying flows and the news is money is flooding home. After last week’s  804 billion yen repatriation in bonds and

2

Macro Morning: Japanese fractures

Nothing much happened over the past 24 hours. European stock markets managed to close a little hgiher with the DAX up 0.94%, the CAC up 0.97% and stocks in Milan and Madrid up 1.55% and 1.20% respectively. The Nikkei had another mad trading day yesterday finding support under 14,000 for the 3rd session in a

23

Bottom departs Australian dollar

In one promising development today, the arse is departing from the Australian dollar, currently trading down towards 96.5 cents. First it was Bernanke and then Ford in the two step: On a longer time frame the key levels are last year’s low at 95.70/80 and then huge at 94 cents (h/t Deus Forex Machina): Having refused

14

OECD warns Australia to join currency war

Senior Australian economist Adrian Blundell-Wignall, special adviser to the OECD’s secretary-general, said yesterday that: “Australia is in a very unfortunate position…Having done the right thing, having no capital controls, Australia is now facing the whole avalanche of world investors seeking out Australian assets…the yen had been strong not because interest rates there (in Japan) were

2

The Australian dollar is weak

Here’s the Aussie chart for today. See the spike on the breakout Housing Finance figures? No? That’s because it isn’t there. Had today’s Housing Finance figures come out any time in the past year the dollar would have piled on a cent. Either it’s now structurally weak, or weak on this morning’s other news flow

4

Paul Bloxham backs lower dollar

The young guns are awakening. Paul Bloxham is out this morning with a new note supporting moves to lower the dollar: Last week brought some large jolts to Australian financial markets. The RBA cut the cash rate to a 53 year low and by the end of the week the AUD had dropped below USD

44

Pascometer burns red on the Aussie dollar

For a late Friday treat, the Pascometer is once again spraying its firey rays around the room with a siren song of sell! MP has endorsed a strong Australian dollar thereby confirming the opposite. Honestly, this video is worth a look. Even by the Pascometer’s inexact standards this effort is a very serious wide. Weeoooo.

19

Dr No: Dollar to the moon!

From the AFR: “Rather than fiddle with the dollar [and] try to engage in competitive devaluations, which has appalling echoes of the policies which were pursued to such destructive effect back in the 1930s, we think the best thing government can do to help those who are burdened by the high dollar is to take

32

Julia deploys jawbone on Australian dollar

Thank Christ. Sense seems suddenly to have prevailed among the elites. The PM told ABC radio this morning that: We have growing sectors of our economy that are under pressure from the high Australian dollar…We have low interest rates by historic standards in this country, but compared with a number of countries around the world

1

Macro Morning: Australian dollar wilt

So rhetoric works sometimes it seems and my hosing recovered somewhat overnight with the big fall in the Aussie and Dr Copper going the way of my position. It was actually bad trading and the type of trading that only a big balance sheet, small positions or a big fund can really justify. But I

69

Swan: Dollar to the moon!

Jeez, the Swan jawbone flaps like a dunny door in a gale: Treasurer Wayne Swan believes it would be a “folly” and extremely dangerous for Australia to intervene to curb the strength of the Australian dollar, despite its impact on company profits and government revenues. …”We have a developed economy in very good nick,” he

11

RBA to buy yuan

Find below a speech by the Deputy Captain of the RBA Phil Lowe on new arrangements between the bank and the PBOC. These swaps lines could come in very handy when Chinese money does a runner out of Australia at some time in the future and we’re desperate for yuan to pay back to our