ANDIKA BULLETin 17 OCT 2024

Seems the US mkt over the last week and a bit is being driven by another short squeeze...

And the USD has also enjoyed (so far) an uninterrupted run higher (AUD lower now $0.666 US cents)

And despite the dollar strength, gold rallied up to a new closing record high of USD$2,689.70 (now over AUD$4,000 per ounce!)

Which makes this chart even more interesting.

That's quite a 'decoupling' between gold and the greenback wouldn't you say?

Meanwhile, Bitcoin continues to rip (Trump victory?), topping USD$68,000 overnight for the first time since July.

That makes Bitcoin worth over AUD$102,000 per token!

Lastly (and worryingly)  USA sovereign risk has surged to its highest in a year.

and yet the Mkt doesn't seem worried one bit!

Happy Thursday!

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