DXY sagged last night:
AUD blasted off:
![](https://d70-invdn-com.investing.com/content/b33d1d1d25aa4dafdb3b66c75efa5565.png)
With JPY:
![](https://d70-invdn-com.investing.com/content/e2eca67c758a3e9b347019b1f8a15b54.png)
Brent is a bust, gold is running:
![](https://d70-invdn-com.investing.com/content/b182f298d091f244fd97ddde6ec076b7.png)
Dr Copper want to break out:
![](https://d70-invdn-com.investing.com/content/4d73ab504447e21de6dc462de24ea6f1.png)
Miners meh:
![](https://d70-invdn-com.investing.com/content/c1adae9cce70e90296bfcfa9b13d3eb9.png)
EM might be bulling up:
![](https://d70-invdn-com.investing.com/content/e15b890f9957d5520f7bf32b343a9b1d.png)
Junk yawned:
![](https://d70-invdn-com.investing.com/content/e96cdb7f7e247b4f81a401fa829fcdbb.png)
As yields firmed:
![](https://d70-invdn-com.investing.com/content/06e55b2e908c72793afc533b0cf08194.png)
Stocks only go up:
![](https://d70-invdn-com.investing.com/content/c28978a11653daa5ce4251c18752588f.png)
It was an avalanche of positives:
- Lots of dovish Fed speak.
- ECB cut inflation outlook and is set to cut soon.
- Japanese wages were strong and a QE exit looks favourable.
That was enough to sink DXY as global reflation took centre stage.
AUD prospers in such an environment.
It will take a strong NFP on Friday night to knock this backwards.