USD at a 2 Year High…What now for the Currency & Global Risk Assets?
On July 13 we asked if the USD was about to begin running into trouble given that it was about to register a two-year closing price high. We asked this question because somewhat counter-intuitively, when the USD has been printing…...
USD About to Run into Some Trouble?
If the USD closes above 83.83 today it will register a 2-year closing high (genesis for this idea came from a Chris Kimble post yesterday, though his conclusion appears different). And clearly, even if we fail to do this, it…...
Any Clues Provided by the USD’s Large Losses Today?
As of right now the USD is down ~110 bps on the day. Since March 2009 there have been 33 other occurrences of single-day USD declines of at least 100 bps. The last instance dates all the way back to…...
Airlines Successfully Clearing First Test of Resistance, More Upside in Play?
I know the airlines group is generally loathed. That said, in a post earlier this week it was noted that the group’s relative performance against the SPX has tracked the general decline in the USD for over a decade now and…...
Much Maligned Airlines About to Sustainably Outperform?
As of this week, the USD is breaking trend-line resistance dating back to the early part of the last decade at line (1) below. Ostensibly, this represents a trend change of some proportion – bull market beginnings, bear market endings. The…...