Australian dollar goes wild on US wages boom

David Llewellyn-Smith

Monday, 5 November 2018

DXY rebounded over the weekend but not that much as CNY takes off on trade hopes. EUR fell:

AUD was wild, launching then crashing:

Market positioning remain very short at -70k contracts though this data only suns to Wednesdays so does not include the recent short squeeze:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.