Australian dollar to the moon as freedom dies
by David Llewellyn-SmithSee the latest Australian dollar analysis here:
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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/1-10.png](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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/2-14.png](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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/3-11.png](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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/4-9.png](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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/5-5.png](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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/6-4.png](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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/7-3.png](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 https://www.macrobusiness.com.au/wp-content/uploads/2020/05/8-1.png](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 https://www.macrobusiness.com.au/wp-content/uploads/gravatar/david-cropped-1.png](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 https://www.macrobusiness.com.au/wp-content/uploads/gravatar/david-cropped-1.png](https://www.macrobusiness.com.au/wp-content/uploads/gravatar/david-cropped-1.png)
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