DXY took a breather:
AUD firmed:
Brent and gold running together is not a good sign for everything else:
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Copper and Aluminium are warm:
Miners kicked:
EM wants to break out:
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Something hit junk:
Yields up:
Stocks down:
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The AI party has a problem. Oil is breaking higher:
Oil stocks are the new AI:
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If this continues, rate cuts will be ended everywhere.
This has been a maro rally, and nothing is more of a macro killer than oil seeking a level of demand destruction.
I would expect it to be DXY positive and AUD negative though the latter will be aided by the huge short and gold if it runs in tandem.