Loading ...DXY’s bullish falling wedge, 2-3 days ago
https://twitter.com/uselinkinv/status/1679100384881651712
What were the chances that it could break down from that steep a falling wedge?
What does TA say with 99.81 intraday low today?
A 3.26% down move in less than 5 trading days.
Harbinger of?
GL
Edit: another chart
https://stockcharts.com/h-sc/ui?s=%24USD&p=D&yr=0&mn=11&dy=0&id=p72323937576&a=414581800
Thanks Sir Fully.
Here’s one from dear Gareth Soloway. That guy just keeps on winning (making the right calls!)
https://twitter.com/GarethSoloway/status/1678793550295621632/photo/1
Here is MohamedEl-Erian’s explanation:
“The dollar DXY index is trading weaker … and is now at a level not seen since April 2022.
This is being driven primarily by changing expectations about rate differentials after the US #inflation data.”
Sir KenS,
Will the Fed let yields fall further? 10-year yields are already approaching support.
If yields start rising again, they may break out to new highs for this move that is an year or so old.
Will DXY rebound if yields rebound?
Or will DXY have fallen further from now on until the next rate hike? Which could mean that the Fed has to surprise with a higher than expected (0.25) rate raise?
Why did Yellen really go to China?
And what does all this mean for the broader markets?
Too many questions, I know.
As I wrote last week, this summer will not be boring.
GL