Australian dollar surges on Goldilocks US jobs

Monday 5 July 2021

Forex markets sold the fact Friday night as Goldilocks US jobs eased fears of both Fed tightening and stagflation. DXY fell away but pretty modestly in the end as EUR remains weak:

Australian dollar was short-squeezed higher more than others:

As markets position for lower:

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.