I'll be talking Aussie dollar and the Fed shortly on @SkyNewsAust with Ross Greenwood

Meanwhile, on Bloomberg page RICH<go>:

Bloomberg page RICH<go> 🤯

Whoa, the ABS estimates that the quantity of tobacco consumed per person in Australia has increased 22% since 2017, mostly due to illegal cigarettes. Smoke 'em if you got 'em?!

Real money accounts on CME sharply reduced A$ net longs in week to May 26, to 19.1k contracts from 40.6k. This extends the unwinding from record net longs on 12 May. Hedge funds trimmed AUD net longs only marginally, to 60.2k from 61.2k. The combined position dropped to A$7.9bn from A$10.2bn. The position reductions came despite Aussie rising 62 pips over the week to 0.7169. Main AU data in the week was the jobs report which saw the unemployment rate unexpectedly rise to 4.5%.

Real money accounts on CME trimmed Aussie net longs to 40.6k contracts from 47.6k which was a record net long (since 2006). Hedge funds extended net longs to 61.2k from 55.9k. The face value of the combined position was little changed at AUD10.2bn. AUD dropped from 0.7240 to 0.7107 over the week to 19 May, placing it 14th out of 16 major currencies.

After Australia's unemployment rate jumps to a high since 2021, pricing for the RBA to hike the cash rate by August drops from 81% to 42% chance:

Hmm surely gold isn't trading off Korean industrial relations news now?! 🤨

Real money accounts on CME extended Aussie dollar net longs to a record (since 2006) 47.6k contracts from 44.9k week prior while hedge funds’ AUD stance was little changed at 55.9k. The combined position rose to a historically massive A$10.3bn from A$10.1bn, extending the remarkable swing from net short -A$8.7bn late Nov 2025.

There you go, @Scutty it's been a few minutes

Hedge funds increased AUD net longs to 56.6k contracts in week to 5 May from 47.9k. Real money accounts were little changed, net long 44.9k versus the record high 45.1k week prior. Combined position rose to AUD10.1bn from 9.3bn. The Aussie was flat on the week at 0.7183 despite a calendar including Australia’s Q1 CPI data, the FOMC meeting and a third consecutive RBA rate hike, albeit the latter with language hinting at a pause in the tightening cycle.

Real money accounts on CME boosted Australian dollar net longs over the week to April 28, extending to 45.1k contracts from 36.5k. This is a new record high for the series which commenced in 2006. Hedge funds were little changed on the week, 47.9k vs previous 48.3k. Big picture, these accounts dumped their previous bearish Aussie stance around the turn of the year and have since remained upbeat throughout the geopolitical turmoil.

Bloomberg survey of forecasts of the RBA cash rate finds almost everyone expects a 25bp rate hike on Tuesday. Following Australia's CPI data showing further deceleration in quarterly core inflation, some forecasters are using phrases such as "a close call" while leaving a May hike as their base case. The median forecast for December in the survey is 4.35% but there are plenty of blanks, so maybe BBG will update the survey later. Market pricing sits around 80% chance of a May hike, with a total of 66bp priced by year-end.

I'll be discussing FX themes, oil (of course!), geopolitics and Asia shortly on @CNBCi

Well it's only been 13 minutes right, what's the rush?

Hedge funds and real money accounts on CME trimmed Aussie dollar net longs over the week to 7 Apr. HFs cut to 45.9k contracts from 52.6k and asset managers/insto to 40.7k from 44.6k. Real money had been record net long (data to 2006). The combined position slipped A$1bn to A$8.7bn. In the CFTC reporting week, AUD rose 74 pips to 0.6974, amid broad USD decline but Aussie outperformance. Data was ignored, the main driver remained oil prices and their impact on risk appetite. The 7 Apr NY close captured the start of a rebound in the risk mood as Pakistani PM Sharif said he is proposing a two-week ceasefire. The Aussie rallied about 30 pips on this and added another cent on President Trump’s subsequent post accepting the proposal.

*TRUMP: IRAN DOESN'T NEED TO MAKE DEAL FOR US TO LEAVE ummm...bullish? 🤔

CFTC data shows real money accounts on CME held fresh record Australian dollar net longs as at March 24. Their position extended to 43.9k contracts from 41.9k the week prior. Hedge funds increased AUD net longs for the first time since February 17, extending to 49.1k contracts from 45.4k, driven by reduced shorts. This boosted the combined position to AUD9.3bn from AUD8.7bn. This more bullish AUD stance did not align with spot price action, with the Aussie closing the CFTC reporting week at 0.6996 vs 0.7105 the week prior. Its -1.5% slide placed it at #15 out of 16 major currencies on Bloomberg. The week was the immediate aftermath of the RBA rate hike, with most eyes on the Middle East headlines and the risk mood broadly bearish. The only Australian data of note was the February labour force survey, which was mixed, jobs surging but the unemployment rate higher than expected at 4.3%. At face value, there looks to be plenty of room for profit-taking on the Aussie after its stellar start to the year.

Not sure the speaker will be happy to see this story... politico.com/news/2026/03/23…

Real money accounts on CME increased AUD net longs to 41.9k contracts from 23.3k over the week to March 17, their most bullish AUD stance on record (data to 2006). Leveraged funds were about steady AUD, 45.4k contracts vs 46.6k. Combined position jumped to AUD8.7bn from AUD7bn and a mirroring net short -AUD8.7bn as recently as Nov 25. CFTC reporting cutoff was after RBA rate hike.