Australian Dollar

Risk markets were relatively benign overnight as the ECB meeting came and went without any movement in interest rates as expected while the latest US initial jobless claims didn’t surprise either with the USD putting in a very small rally after a week or more of weakness.

Asian share markets like other equities are doing the FOMO trade as it looks apparent that everyone is going to get a new baseline 10-15% tariff rate from the Trump regime with news that the EU is likely to be next, enshrining higher prices for US consumers for almost everything they buy.

Everything is awesome for stock markets as Wall Street pushed through more record highs as earnings surprised to the upside for everyone, except Tesla!

DXY is getting belted again as trade deals flow in.

A better mood on Asian share markets today bolstered by the new US-Japan “deal” which sent Japanese stocks more than 2% higher but has resulted in pushback from US car makers due to the details surrounding metal tariffs.

DXY is getting pounded again.

Last night saw risk markets unable to make headway again, although European stocks sold off across the calendar as the lack of any progress on any trade deals with the Trump regime continues to weigh.

A soft risk taking mood on Asian share markets today following yesterday’s quiet sessions as concerns continue over the inability of the Trump regime to get any trade “deals” cut before the August 1st deadline, with India and Japan effectively ruling out any such notion.

Last night saw risk markets barely move on a quiet economic calendar or geopolitical catalysts with only the USD having any reactions as continued trade concerns with the Trump regime pushing for a baseline 15-20% tariff on all EU products sending King Dollar down against everything.

Asian share markets are quite mixed in the first trading session of the week as concerns over the Trump regimes bullying of the EU in its “negotiations” over the looming August 1st trade deal are spilling over.

Friday night saw risk markets hinge on more trade concerns with the Trump regime pushing for a baseline 15-20% tariff on all EU products while at the same time obfuscating any real chance of a deal with Japan, which went into the final session of the trading week under an election cloud.

DXY faded Friday night.

Most share markets in Asia are lifting going into the final trading session of the week although Japanese bourses are cautious given the domestic election this weekend and the concern over inflation after today’s June print.

DXY is up and away.

Another data drive night with Wall Street pushed to record highs amid an expected initial jobless print and a slightly higher than expected retail sales print, which could have been affected by the inflationary push of tariffs.

Currency markets pivoted to Asian releases today with the jump in local unemployment and a fall in Japanese exports hitting both the Australian dollar and Yen respectively.

DXYT softened last night as the great narcissist⁣ resumed attacking the Fed.

A busy night of data, geopolitics, plus absurd politics as the Trump regime looks to fire Fed Chair Powell because he won’t lower rates (even though he only has one vote and there’s clear evidence of an inflationary push from the tariffs).

Risk markets continue to weigh up last night’s US CPI print with tariff inflation beginning to hit the US domestic economy, with the Fed likely to hold instead of cut for the rest of the year.

DXY is back and EUR is trash.

All eyes were on the release of the latest US CPI print which accelerated over the year showing that the Trump regime’s tariff crusade is beginning to have an effect on domestic inflation.

The uneasy start to the trading week continues as markets weigh up the recent EU and Mexican tariff letters from the Trump regime while also awaiting tonight’s US CPI print that is sure to define risk for the rest of the month.

DXY and EUR have swapped places.

While the NASDAQ just eked out another record high it was all eyes on the USD as markets prepare for the release tonight of the latest US CPI print where we should see if the Trump regime’s tariff crusade has had an effect on domestic inflation.

An uneasy start to the trading week as markets react to further bullying on trade from the Trump regime, with distracting letters sent to the EU and Mexico over the weekend.