DXY is going sideways:
AUD got a little bid:
But won’t go far without North Asia:
Any higher for oil and there’ll be trouble:
Metals have warmed a bit:
Not so miners:
Nor EM:
But marginal debt is back leading the rally. Bullish!
As yields fall:
Stocks paused:
US JOLTS did not cheer the market:
The number of job openings changed little at 9.0 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations were little changed at 5.6 million and 5.4 million, respectively. Within separations, quits (3.4 million) and layoffs and discharges (1.6 million) changed little.
There is something not right in these job ads indexes. They are too high relative to other indicators. Oh well.
We’re on pause now, waiting for the Fed meeting results underway today.
It will need to establish some kind of basis for a March cut or it is off until May.
This would be AUD negative.
