Australian dollar sickened by new coronavirus

DXY was firm.

AUD legged down the leg up.

Jaws still open.

Oil was flogged. Can’t find an obvious reason.

Commods mixed.

Miners down.

EM Deep Seeking continues.

Junk yawn.

Yields rolling?

Stocks puked.

US housing and services data was soft but not terrible. Perhaps everything was exaggerated by Batwoman’s new coronavirus.

More likely were just overbought again and needed to cool off.

AUD is just following risk.

The overextended AUD short came back in a little more last week.

But probably not enough yet to free the currency to move materially in either direction.

I’m still a short-term AUD bull.