Donald Trump’s anarcho-imperialism has given DXY a new leg as snowflake EUR melts in the new world order.
AUD is at critical support.
CNY is still supportive.
Gold is unstoppable. Oil trying again.
Metals did better, but DXY up means they are going down.
EM too.
Junk rejection.
US curve keeps steepening.
Stocks liked weak jobs.
And they were indeed weak, with only 50,000 jobs added and significant downward revisions.
Yet DXY keeps climbing. As Michael Hartnett said,”US flip from exceptionalism to expansionism is best case for a contrarian US dollar long”.
Charts from TME. DXY is breaking the downtrend.
Markets are short.
JPY and EUR are very soggy.
Trump’s Greenland gambit is threatening to tear apart both NATO and the European Union.
It would take a true maniac to see that as a good idea for US foreign policy, and it would be a disaster for Australia as the rules-based order collapsed along with it.
It’s no wonder AUD is frozen stiff in Greenland.
While anarcho-imperialism leads the agenda, AUD will struggle.
