AI chokes out Australian dollar resistence

David Llewellyn-Smith

Tuesday 6 October 2026

DXY is refusing to push higer on the tumbling EUR.

AUD has found a bottom for now.

Gold is irked by yields. Given Yanbu shut today, oil is notably weak.

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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.