<?xml version="1.0" encoding="UTF-8"?><rss xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:atom="http://www.w3.org/2005/Atom" version="2.0" xmlns:itunes="http://www.itunes.com/dtds/podcast-1.0.dtd" xmlns:googleplay="http://www.google.com/schemas/play-podcasts/1.0"><channel><title><![CDATA[Fractally Speaking: Macro Views]]></title><description><![CDATA[In this section, I will provide general market commentary and updates - some posts may be long, others may be quick updates on current events. This section is your go-to for staying up to date with what's happening in the market.]]></description><link>https://fractally-speaking.com/s/commentary</link><image><url>https://substackcdn.com/image/fetch/$s_!e4t4!,w_256,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F93fcdd4b-4407-45a3-9f67-691afc389831_255x255.png</url><title>Fractally Speaking: Macro Views</title><link>https://fractally-speaking.com/s/commentary</link></image><generator>Substack</generator><lastBuildDate>Thu, 16 Apr 2026 00:05:34 GMT</lastBuildDate><atom:link href="https://fractally-speaking.com/feed" rel="self" type="application/rss+xml"/><copyright><![CDATA[Dave]]></copyright><language><![CDATA[en]]></language><webMaster><![CDATA[fractallyspeaking@substack.com]]></webMaster><itunes:owner><itunes:email><![CDATA[fractallyspeaking@substack.com]]></itunes:email><itunes:name><![CDATA[Dave]]></itunes:name></itunes:owner><itunes:author><![CDATA[Dave]]></itunes:author><googleplay:owner><![CDATA[fractallyspeaking@substack.com]]></googleplay:owner><googleplay:email><![CDATA[fractallyspeaking@substack.com]]></googleplay:email><googleplay:author><![CDATA[Dave]]></googleplay:author><itunes:block><![CDATA[Yes]]></itunes:block><item><title><![CDATA[A Quick Look At The Kiwi]]></title><description><![CDATA[NZ data in a visual format..]]></description><link>https://fractally-speaking.com/p/a-quick-look-at-the-kiwi</link><guid isPermaLink="false">https://fractally-speaking.com/p/a-quick-look-at-the-kiwi</guid><dc:creator><![CDATA[Dave]]></dc:creator><pubDate>Sat, 20 Sep 2025 09:14:02 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!qKrc!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F41af9213-f55b-42c4-a087-bca12ebf1268_1582x688.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<p></p><h4>CFTC Non-commercial positioning:</h4>
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   ]]></content:encoded></item><item><title><![CDATA[NZDUSD – Where's It Going?]]></title><description><![CDATA[A visual look at NZDUSD..]]></description><link>https://fractally-speaking.com/p/nzdusd-wheres-it-going</link><guid isPermaLink="false">https://fractally-speaking.com/p/nzdusd-wheres-it-going</guid><dc:creator><![CDATA[Dave]]></dc:creator><pubDate>Sat, 20 Sep 2025 08:53:33 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!TxiU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!TxiU!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!TxiU!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 424w, https://substackcdn.com/image/fetch/$s_!TxiU!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 848w, https://substackcdn.com/image/fetch/$s_!TxiU!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 1272w, https://substackcdn.com/image/fetch/$s_!TxiU!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!TxiU!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png" width="1456" height="1048" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1048,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:2323274,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://fractallyspeaking.substack.com/i/174082589?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!TxiU!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 424w, https://substackcdn.com/image/fetch/$s_!TxiU!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 848w, https://substackcdn.com/image/fetch/$s_!TxiU!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 1272w, https://substackcdn.com/image/fetch/$s_!TxiU!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2F1ca9d693-7aa2-4578-b921-3c7ddcc5d31f_1456x1048.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Yes.. my home currency. The (some would say worthless?) New Zealand Dollar. </p>
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   ]]></content:encoded></item><item><title><![CDATA[The Case For a Bullish USD]]></title><description><![CDATA[Now hear me out.. what if the USD is bullish...]]></description><link>https://fractally-speaking.com/p/the-case-for-a-bullish-usd</link><guid isPermaLink="false">https://fractally-speaking.com/p/the-case-for-a-bullish-usd</guid><dc:creator><![CDATA[Dave]]></dc:creator><pubDate>Sat, 20 Sep 2025 07:56:03 GMT</pubDate><enclosure url="https://substackcdn.com/image/fetch/$s_!3h9X!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png" length="0" type="image/jpeg"/><content:encoded><![CDATA[<div class="captioned-image-container"><figure><a class="image-link image2 is-viewable-img" target="_blank" href="https://substackcdn.com/image/fetch/$s_!3h9X!,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png" data-component-name="Image2ToDOM"><div class="image2-inset"><picture><source type="image/webp" srcset="https://substackcdn.com/image/fetch/$s_!3h9X!,w_424,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 424w, https://substackcdn.com/image/fetch/$s_!3h9X!,w_848,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 848w, https://substackcdn.com/image/fetch/$s_!3h9X!,w_1272,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 1272w, https://substackcdn.com/image/fetch/$s_!3h9X!,w_1456,c_limit,f_webp,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 1456w" sizes="100vw"><img src="https://substackcdn.com/image/fetch/$s_!3h9X!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png" width="1456" height="1048" data-attrs="{&quot;src&quot;:&quot;https://substack-post-media.s3.amazonaws.com/public/images/a4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png&quot;,&quot;srcNoWatermark&quot;:null,&quot;fullscreen&quot;:null,&quot;imageSize&quot;:null,&quot;height&quot;:1048,&quot;width&quot;:1456,&quot;resizeWidth&quot;:null,&quot;bytes&quot;:1917501,&quot;alt&quot;:null,&quot;title&quot;:null,&quot;type&quot;:&quot;image/png&quot;,&quot;href&quot;:null,&quot;belowTheFold&quot;:false,&quot;topImage&quot;:true,&quot;internalRedirect&quot;:&quot;https://fractallyspeaking.substack.com/i/174081320?img=https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png&quot;,&quot;isProcessing&quot;:false,&quot;align&quot;:null,&quot;offset&quot;:false}" class="sizing-normal" alt="" srcset="https://substackcdn.com/image/fetch/$s_!3h9X!,w_424,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 424w, https://substackcdn.com/image/fetch/$s_!3h9X!,w_848,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 848w, https://substackcdn.com/image/fetch/$s_!3h9X!,w_1272,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 1272w, https://substackcdn.com/image/fetch/$s_!3h9X!,w_1456,c_limit,f_auto,q_auto:good,fl_progressive:steep/https%3A%2F%2Fsubstack-post-media.s3.amazonaws.com%2Fpublic%2Fimages%2Fa4fad6f6-5694-4959-80a7-96d842db46c5_1456x1048.png 1456w" sizes="100vw" fetchpriority="high"></picture><div class="image-link-expand"><div class="pencraft pc-display-flex pc-gap-8 pc-reset"><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container restack-image"><svg role="img" width="20" height="20" viewBox="0 0 20 20" fill="none" stroke-width="1.5" stroke="var(--color-fg-primary)" stroke-linecap="round" stroke-linejoin="round" xmlns="http://www.w3.org/2000/svg"><g><title></title><path d="M2.53001 7.81595C3.49179 4.73911 6.43281 2.5 9.91173 2.5C13.1684 2.5 15.9537 4.46214 17.0852 7.23684L17.6179 8.67647M17.6179 8.67647L18.5002 4.26471M17.6179 8.67647L13.6473 6.91176M17.4995 12.1841C16.5378 15.2609 13.5967 17.5 10.1178 17.5C6.86118 17.5 4.07589 15.5379 2.94432 12.7632L2.41165 11.3235M2.41165 11.3235L1.5293 15.7353M2.41165 11.3235L6.38224 13.0882"></path></g></svg></button><button tabindex="0" type="button" class="pencraft pc-reset pencraft icon-container view-image"><svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 24 24" fill="none" stroke="currentColor" stroke-width="2" stroke-linecap="round" stroke-linejoin="round" class="lucide lucide-maximize2 lucide-maximize-2"><polyline points="15 3 21 3 21 9"></polyline><polyline points="9 21 3 21 3 15"></polyline><line x1="21" x2="14" y1="3" y2="10"></line><line x1="3" x2="10" y1="21" y2="14"></line></svg></button></div></div></div></a></figure></div><p>Look, unless you&#8217;ve been living under a rock for the past 6-9 months, you&#8217;ll know that the general bias for the USD is bearish. </p>
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