MacroBusiness
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at 9:27 am on July 21, 2021 | 7 comments
Forex markets enjoyed a relief rally overnight but not AUD which remains very weak. DXY is still grinding higher too, a warning for every reflationist
The Australian dollar dead cat splattered:
Metals bounced:
The curve steepened but it was a bear:
Stocks BTFD!
Event Wrap
US housing starts in June rose to 1.643m (est. 1.59m, prior 1.546m), underlining the strength of the market despite rising building costs. Although building permits fell to 1.598m (est. 1.696m, prior 1.683m) – still a historically high level.
Eurozone current account data from the ECB showed a fall in the surplus to EUR11.7bn in May (from EUR22.1bn in April), reflecting known trade data.