DXY is treading water as we await the October US CPI:
AUD is weak:
Oil is trying
Iron ore keeps going up but equities do not believe:
CFTC positioning puked AUD shorts last week:
At -65 contracts, we are well off the record lows.
I would like to see another puke towards -50 before calling the all-clear on positioning that enables another down leg in the AUD.
But at current levels, we have probably cleared enough to punch through new lows if we get a strong US CPI.
None of that means it will happen just that it now could.