The US dollar continued its decline, the dollar index falling to a fresh eight-month low. The dollar is being led lower by a surging euro. The euro is actually at a 12-month high against the US dollar.
Jun 30, 2017
Jun 29, 2017
Draghi Sends Euro Higher, US Dollar Lower
The US Dollar was down sharply and broadly led lower by a rally in the euro currency. The catalyst for the euro rise were some statements by Mario Draghi early in the morning basically where he said that he thought the downward pressures on inflation were transitory so a somewhat hawkish stance on inflation and the markets took that to mean that QE will come to an end sooner rather than later.
Jun 26, 2017
Gold: Putting In A Significant Bottom
I think the significant thing though for the US Dollar and gold is that the dollar is in the process of putting in a very significant top and the flip side of that is that gold is in the process of putting in a significant bottom. I think the catalysts for breakdowns in the dollar and breakouts in gold is going to be some realization, some capitulation on the part of the markets, the Federal Reserve to square perception with reality because you know the economic surprise index is at the lowest that span since 2011. People have been looking forward to good news and they've been disappointed constantly. (SPDR Gold Trust ETF (GLD), iShares Silver ETF (SLV), Market Vectors Gold Miners ETF (GDX))
Subscribe to:
Posts (Atom)