DXY was smashed last night:
That triggered AUD ecstasy:
Even the peg moved:
Adding to the joy, oil didn’t move:
EM took off:
Stocks to the moon!
‘Twas a heavenly US CPI that lit up markets. Below estimates and with more falls ahead as rents cool off (yes, falling rents):
Core services are still a aproblem but there us more deflation to come in housing and wages are coming off too so there is no need to panic even about that.
DXY looks likely to perform a cyclical dump here and with Alboflation at home the AUD looks ready to rocket.