Dollar is king
Updated
Watching the Dollar to see how it acts around the lower end of this trading range.
Dollar has been trading sideways since Nov.
Expectations of Fed rate hikes through 2019 has no doubt been a tailwind for the Dollar in the last couple months.
Depending on how quickly Powell changes his attitude and language in the coming (now every 6 weeks) FOMC press releases, Dollar will be affected.
Disclosure I am long
GOLD GDX... a weak dollar would be appreciated.
Obviously we have not seen a strong dollar the likes of previous runs (see 1990s).
If we break through $98 and head north of $100 expect more pain in emerging markets... such is the cost of borrowing in other currencies.
Have a good weekend!
Dollar has been trading sideways since Nov.
Expectations of Fed rate hikes through 2019 has no doubt been a tailwind for the Dollar in the last couple months.
Depending on how quickly Powell changes his attitude and language in the coming (now every 6 weeks) FOMC press releases, Dollar will be affected.
Disclosure I am long
GOLD GDX... a weak dollar would be appreciated.Obviously we have not seen a strong dollar the likes of previous runs (see 1990s).
If we break through $98 and head north of $100 expect more pain in emerging markets... such is the cost of borrowing in other currencies.
Have a good weekend!
Note
Dollar still trading against the lower end range.GOLD at 6 month highs.Note
Seems like a pretty clear break to the downside.Would be watching to see if this dollar weakness continues into a new trend or if we bounce off $95-95.50
Watch
GOLD,Expecting to see some breakouts if dollar weakness continues.
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