Australian dollar jaws open wide

DXY finds a footing.

AUD rocket flamed out.

Lead boots going nowhere.

Gold flame out, oil stable.

Copper is a lunatic.

Miners still stuffed.

EM going nowhere forever now.

Junk not priced for recession yet.

Yields still tending to rise.

Stock chop.

Everybody is selling the whimpering greenback.

More than stocks.

Way more than yields.

Whoa!

Is the EUR really this damn good when it doesn’t even have fiscal unity?

These charts are unprecedented. DXY is signalling a complete breakdown of Bretton Woods II.

If it doesn’t happen, the snapback is going to be violent as these jaws snap shut.

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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.