Australian dollar wrestles 70 cents as stocks fly

DXY was weak last night:

The Australian dollar was up against DMs:

Mixed against EMs:

Gold was firm:

Oil too. If Brent gores higher, shale will turn on:

Dirt flamed out:

Miners to the moon:

EM stocks bounced:

Junk fakeflated:

Bonds remain crushed:

As stocks threaten new highs:

The only chart that matters is showing the AUD slowing versus stocks again:

There wasn’t much in news. More scuttlebutt around useless vaccines and more Robinhood accounts to drive stocks.

Meanwhile, the supposed rationale for the rally, the “v-shaped recovery”, has died everywhere but China:

As the virus runs wild in the US:

Who knows how long it will take for stocks to wake up to the fact?

In the meantime, expect the Australian dollar to grind higher.