Australian dollar pounded by stalling economy

DXY is up and away.

AUD appears to have locked in its double top. There may be a pop on Chinese yawnulus, but I expect disappointment. Sacking Powell is the only hope now.

Lead boots are plodding downhill.

Metals meh.

Same same.

Big mining bear locked in.

EM is running against DXY.

Junk funk.

Long bonds compressing into wedge. Next breakout is big.

Stocks only go up.

Some more on the rise of the DXY for you. Breaking out.

Everybody short.

Machines are next to join.

Looks to me like the AUD rally is cooked.

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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.