Australian dollar victim of American violence

Advertisement

DXY is an unstoppable rocket:

AUD is a scorched stool:

CNY keeps being rewarded for cutting rates:

Oil stuffed. Is gold noise or signal? If it is the latter, is it discounting American election violence?

Advertisement

Commods crushed under DXY:

Miners too:

Advertisement

And EM:

Junk anxiety is creeping in:

As yields jackknife:

Advertisement

Stocks have discounted nothing by sunny uplands:

DXY is getting overbought:

But if Republicans win, or win big, the positioning will have to grow a lot more:

Advertisement

The tariff agenda is killing rate cuts. Stocks are supported by the outlook for GOP corporate tax cuts but come on:

Advertisement

Republicans are ahead in Pennsylvania now and still charging in other swing state polling:

A red win equals lower AUD. A blue win means a violent upside.

Advertisement
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.