Australian dollar falls off a cliff

DXY is back as the child president spews his slop in a hard reverse.

AUD has switched from safe haven to growth proxy,

Lead boots to the moon!

That is the ugliest double top on gold I can remember.

Metals vote for growth over tariffs.

Miners maybe.

EM nears breakout.

Grow my junk!

Yield pause.

Stocks crash up.

The child president’s near total capitulation on China tariffs has DXY on fire.

Nobody has any.

EUR into the pit.

AUD follows EUR and there is room for more shorts.

AUD is going to fall while this rally blasts higher.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.