DXY is holding on as Liberation Day passes.
AUD firmed.
Lead boots are heavier.
Oil and gold stalled.
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Base metals are pointing at a tough touchdown.
Large miners, huge bears, plod on.
EM meh.
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Junk funk not funky sufficient.
However bonds bid.
Aiding shares, which rose reasonably.
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US JOLTS have been Goldilocks with out displaying a lot hurt from DOGE.
The ISM was a stagflationary shocker at 49, with new orders down 3.4% to 45 versus inventories up 3.5% to 53.4.
As the brand new orders/stock ratio collapses, that has a tough touchdown written throughout it.
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It might be that the employment shock we’re all in search of may come after a progress hit, not earlier than.
The US “arduous touchdown” state of affairs is again, and that doesn’t bode properly for AUD.
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