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Australian dollar blasts off

Published 08/03/2024, 09:13 am
Updated 09/07/2023, 08:32 pm

DXY sagged last night:

AUD blasted off:

With JPY:

Brent is a bust, gold is running:

Dr Copper want to break out:

Miners meh:

EM might be bulling up:

Junk yawned:

As yields firmed:

Stocks only go up:

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.

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