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…...

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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…...

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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…...

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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…...

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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…...

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