Macro memory | AXIOM FX

Inherited regime

Selective defensive USD + weak high beta + selective carry, with no clean risk-on regime.

The main inherited lesson is that central-bank weeks can make COT, curves and positioning override structural scores.

Week2026-W25

Originmanual_weekly_report

Post-mortem referenceNZD / COT / 2Y-policy

Do not short NZD automatically if 2Y-policy remains strong.
Do not treat JPY as clean funding when COT is extreme.
Do not treat CAD as a clean short when positioning is crowded.
Do not chase USD/CHF at a big figure before the SNB.
FXMacroData forex is not an execution feed.

Whether AUD/USD confirms weakness after RBA or produces a false break below 0.7000.
Whether USD/CHF sustains 0.8000 after SNB or reverses toward CHF strength.
Whether EUR/USD loses 1.1530-1.1500 after HICP.
Whether GBP/USD confirms weakness only after CPI, employment and BoE.