Daily brief, 2026-08-31.
This edition is kept as published — it does not update. The live brief is at /r/brief.
The opening line that morning
Against a backdrop of elevated real yields and a softer dollar, risk appetite was selective: equities and gold gained, while bitcoin stumbled. The strategy remains short the Canadian dollar against the U.S. dollar and short the Australian dollar against sterling, with a pending order to buy gold on a move higher. The main focus is the Canadian dollar pair, where a scheduled window for a cyclical low opens tomorrow and runs into mid-September. That window is the next thing to watch, as it marks the period when a low could take shape. No direction is promised, only timing attention.
This edition ran with the short opener only — the longer read is written against the day's own numbers and is dropped whenever a single figure in it fails to match the published pack. We keep what was actually published, not a reconstruction.
Levels published that day — and what became of them
superseded — we re-drew the level before price reached it
expired — price never reached the level
superseded — we re-drew the level before price reached it
superseded — we re-drew the level before price reached it
superseded — we re-drew the level before price reached it
superseded — we re-drew the level before price reached it
superseded — we re-drew the level before price reached it
superseded — we re-drew the level before price reached it
superseded — we re-drew the level before price reached it
Graded against the journal, net of modelled costs, stop-first on ambiguous bars.