Australian dollar hottest currency on earth

Wednesday 15 March 2023

DXY was stable last night:

AUD ripped higher faster than anybody else:

Gold fell. Oil has classic bearish descending tringle pattern. The support around $76 is huge but if it breaks it is all over, red rover:

Dirt, miners and EM were OK:

Yields snapped higher:

The village idiot drooled:

To describe the bounce as unconvincing does not really cover it given KRE managed only 2%:

It appears there is a run on regional bank equity as much as there is deposits.

I am not playing FX at the moment. It is all too unpredictable.

About the author

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.