Australian dollar slain with oil

au.investing.com/analysis/australian-dollar-slain-with-oil-200554446

By David Llewellyn-Smith | Mar 16, 2023 10:19

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DXY to the moon! EUR puked as Credit Suisse (SIX:CSGN) all but collapses:

AUD was slain except against the dying EUR:

Gold held up. Oil broke. Big downside here:

Dirt was hosed:

Big miners (NYSE:RIO) fell down an abandoned shaft:

With EM stocks (NYSE:EEM):

Junk (NYSE:HYG) is next:

The recessionary Treasury curve steepening is here:

As the Wall St bubble quivers but refuses to pop:

‘Twas Credit Suisse that did it all:

Swiss National Bank will provide liquidity if necessary

Top shareholder Saudi National Bank rules out more investments

Shares drop 24% in biggest one-day selloff; euro drops, bonds surge

US regulators are reviewing banks’ exposure

As somebody said, there is never only one cockroach. Is this the last of them? I doubt it.

This looks increasingly like the credit event we’ve been waiting for. If so, there’ll be more casualties as counterparty risk rocks global banks. KRE (NYSE:KRE) still can’t get a bid:

And, remember, this is only the financial phase of the shock. Next comes the real economy phase as credit dries up and growth dies. Earnings and equities will die right along with it.

That is what oil and commodities have begun to price in.

AUD with them.

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Comments (1)

Wesley Minster Mar 16, 2023 16:57

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Central Banks

Interest Rates

Next Meeting

RBA

3.60%

Apr 04, 2023

BOE

4.25%

May 11, 2023

ECB

3.50%

May 04, 2023

FED

5.00%

May 03, 2023

SNB

1.50%

Jun 22, 2023

BOC

4.50%

Apr 12, 2023

RBNZ

4.75%

May 24, 2023

BOJ

-0.10%

Apr 28, 2023

CBR

7.50%

Apr 28, 2023

RBI

6.50%

Apr 03, 2023

PBOC

3.65%

BCB

13.75%

May 03, 2023

S&P/ASX 200	7,043.50	+9.40	+0.13%
ASX 200 Futures	7,065.5	+40.0	+0.57%
ASX All Ordinaries	7,230.10	+10.70	+0.15%
US 500	3,986.0	+14.7	+0.37%
Dow Jones	32,394.25	-37.83	-0.12%
China A50 Futures	13,154.0	-7.0	-0.05%
Dollar Index	102.190	+0.084	+0.08%

Crude Oil WTI	73.68	+0.48	+0.66%
Natural Gas	2.160	-0.002	-0.09%
Gold	1,988.05	-2.35	-0.12%
Silver	23.407	-0.013	-0.06%
Copper	4.0747	-0.0023	-0.06%
US Sugar #11	21.37	+0.44	+2.10%
US Coffee C	174.18	-2.72	-1.54%

Australia 10Y	3.330	+0.018	+0.54%
Australia 5Y	3.040	+0.026	+0.86%
New Zealand 10Y	4.166	+0.060	+1.47%
U.S. 10Y	3.579	+0.011	+0.31%
Japan 10Y	0.303	-0.016	-5.02%
China 10Y	2.878	+0.015	+0.51%
Singapore 10Y	2.893	+0.007	+0.24%

CSL	283.33	-1.67	-0.59%
Woolworths	37.550	-0.010	-0.03%
ANZ Holdings	22.540	-0.100	-0.44%
Commonwealth Bank Australia	95.575	-0.485	-0.50%
Telstra Group	4.200	+0.010	+0.24%
National Australia Bank	27.115	-0.545	-1.97%
BHP Group Ltd	45.020	+0.620	+1.40%

Australian dollar slain with oil

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