The robust jobs report (224,000 new jobs vs. 160,000 projected) immediately changed the narrative of forthcoming Fed rate cuts, which had been the wind beneath the sales of the recent bull action in gold and bonds, and the weight pushing the dollar lower.Read More
The bond market has been on fire of late with two rate cuts now being priced into the market in 2019. While equities and energy have reacted harshly on expectations of slowing growth, the US dollar and gold, in particular, have been surprisingly mired in a low volatility coil.Read More
This morning, the dollar spiked up to 98.20, its second recent attempt to definitively break above resistance at the 98 level. The Relative Strength Index (RSI) has yet to confirm this move. I would like to see the RSI break above the downward trend line when prices get updated on the close.Read More
The Dollar Index ($DXY) has been attempting to break the 98 Level for two years, pushing up against it five (!) times before finally breaking through (albeit briefly) the last week in April. The 98 level is significant also because it represents the 61.8% Fibonacci retracement from the January 2017 peak to the February 2018...Read More
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