Australian dollar taken hostage by US jobs

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All markets are becalmed. They are waiting for US jobs come Friday. The BLS release has within it the prospect of breaking today’s impasse. If jobs boom then the recovery narrative can gather speed and DXY rally. If they stall again on supply-side hiccups then markets will probably push back Fed action. DXY and EUR are in the meantime swapping footy cards:

Australian dollar is stalled:

Oil has broken out, however. Bring on the shale!

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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.