Australian dollar pulverised to new 2023 low
David Llewellyn-Smith | May 25, 2023 09:15
DXY is up and away:
AUD is at a new 2023 low and in free fall:
Gold is in trouble. Oil is bid:
I hope you’re enjoying Zoltan’s and Goldman’s “commodity super cycle”:
Miner (NYSE:RIO) touched the void:
EM (NYSE:EEM) stands for Exit Markets:
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Treasuries are pricing out Fed cuts as the AI bubble runs riot. The curve is being daisy cut:
Stocks no likee:
What can I tell you?
- runaway AI bubble;
- inflation far too strong and Fed restive in the minutes;
- X-date upon us with liquidity drain on deck, either way;
- small bank credit crunch marching on;
- Chinese L-shaped recovery in property the end for commodities, with no stimulus either, and
- Europe headed into recession with a bullet.
That’s a lot of risk with very little pricing of it. Especially so, given markets are all positioned for a weak US versus a strong world.
Onwards and downwards for AUD.
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