Australian dollar closes its eyes and prays

David Llewellyn-Smith

Tuesday 28 April 2026

DXY has gone precisely nowhere since the war began.

AUD is nudging rebound highs, aided by CNY.

Oil and gold are good and bad twins.

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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.