Australian dollar pulverised to new 2023 low

DXY is up and away:

AUD is at a new 2023 low and in free fall:

Gold is in trouble. Oil as bid:

I hope you’re enjoying Zoltan’s and Goldman’s “commodity super cycle”:

Miner touched the void:

EM stands for Exit Markets:

Treasuries are pricing out Fed cuts as the AI bubble runs riot. The curve is being daisy cut:

Stocks no likee:

What can I tell you?

• runaway AI bubble;
• inflation far too strong and Fed restive in the minutes;
• X-date upon us with liquidity drain on deck, either way;
• small bank credit crunch marching on;
• Chinese L-shaped recovery in property the end for commodities, with no stimulus either, and
• Europe headed into recession with a bullet.

That’s a lot of risk with very little pricing of it. Especially so, given markets are all positioned for a weak US versus a strong world.

Onwards and downwards for AUD.