It will be a bright and early start tomorrow morning with extreme volatility expected in the early interbank market, starting at 5am Sydney time.
I’ve heard lots of strong opinions already convinced that we’ll see USD selling, USD buying, Gold up, Gold down, Treasuries up, and Treasuries down; the only sure thing is that we get lots of volatility and stops triggered all over the place.
It will be risk off, of that I think we can be sure, so the AUD is likely to fall on the crosses. The CHF and JPY are likely to be in demand in early trade but the market will also be wary of any emergency measures which might arise in order to calm markets.
See you tomorrow.