Australian dollar to the moon as freedom dies

by

See the latest Australian dollar analysis here:

Macro Afternoon

The AUD is up and away this morning, recapturing the mid-65s, former resistance, now support:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/1-10.png

Bonds have eased:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/2-14.png

Stocks jumped at the open and the chart is still bullish:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/3-11.png

Big Iron is loving making the rifles and cudgels of autocracy:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/4-9.png

Big Gas too:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/5-5.png

And Big Gold:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/6-4.png

Big Banks are caught an L-shaped recovery tractor beam:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/7-3.png

But Big Chunt only goes up:

https://www.macrobusiness.com.au/wp-content/uploads/2020/05/8-1.png

There is nothing quite like the spectacle of liberal markets cheering the death of liberalism.

https://www.macrobusiness.com.au/wp-content/uploads/gravatar/david-cropped-1.png

David Llewellyn-Smith
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.

He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.

https://www.macrobusiness.com.au/wp-content/uploads/gravatar/david-cropped-1.png

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