usdindex
While I can’t make any guarantees, that’s very likely at this point. Gold hasn’t moved back below $2,000 yet, but what it did, however, indicates that such a move is just around the corner. Q1 2023 hedge fund letters, conferences and more Namely, gold moved lower on visibly higher volume, and this – after a profound rally – marked the beginning of the decline in many cases. This includes the March 2022 and January 2023 tops. The indication coming from the USD Index seems more important, though. Breakdowns to new yearly lows and moves below the previous important bottoms are viewed as important...
ValueWalk
In hisDaily Market Notes report to investors, Louis Navellier wrote: Threat To The January RallyThe Fed day has arrived; a 25 bps increase is expected and Jerome Powell’s comments will be telling. The biggest threat to the broad January rally is on the table; will the Fed pivot in 2023 or not? So far, all the Fed rhetoric has been that they will take the Fed Fund rate to at least 5% and leave it there until inflation is well on its way to 2%. Q4 2022 hedge fund letters, conferences and more Both the bond and stock markets reflect something different. The biggest bulls see the Fed stopping afte...
ValueWalk
While the greenback‘s failed breakout on Nov. 4 may seem bearish, it faced a similar situation in August and October, only to recover and achieve new highs. Q3 2021 hedge fund letters, conferences and more The USD Index Responds Negatively To The ECB's PolicyAfter the USD Index’s negative response to the ECB’s monetary policy meeting on Oct. 28, I warned on Oct. 29 that dollar bears were unlikely to celebrate for much longer. I wrote: Based on the rather random comment during the conference, the traders panicked and bought the EUR/USD, which triggered declines in the USD Index (after all, the ...
ValueWalk
Gold seems to be sleeping off its latest mini-rally and lacks the momentum to reach new highs. What happens from here? Has the USD bottomed? And what does it mean when we factor in the EUR/USD pair and poor economic indicators from Europe into the equation? [soros] Q4 2020 hedge fund letters, conferences and more Gold’s Mini-RallyNot much happened yesterday (Jan. 21), but what happened was relatively informative. And by “relatively” I mean literally just that. Gold moved lower yesterday and in today’s pre-market trading, doing so despite another small move lower in the USD Index. The moves are...
ValueWalk
The fate of the U.S. Dollar will weigh heavily on the future of the precious metals in 2021. At first glance, the USDX’s prospects look rather bleak in the first months of the year, but as the pages of the book turn, the dollar’s likely later ascension could prove rather bearish for gold and the PMs. Q3 2020 hedge fund letters, conferences and more USD Index Continues To Break HeartsBreaking hearts as the USD Index falls in and out of love, the greenback continues to leave bulls at the altar, which is likely to have important implications for the gold market in the following weeks . Dressed to...
ValueWalk
As of Wednesday (Dec. 30) morning, gold is range trading and remains more or less flat as it seeks momentum. As we wait for the precious metals to act on a catalyst, let’s also take a look at the Euro’s relation to the US Dollar and how both impact gold. Q3 2020 hedge fund letters, conferences and more Gold Doesn't React To The US Dollar Index SlippingOver the last 24 hours, the precious metals market did more or less nothing, despite the new daily decline in the US Dollar Index. The latter is now testing its monthly and yearly lows, while the PMs are not. PMs – as a group – are not reacting t...
ValueWalk
After awakening from its slumber last week, the USD Index may be in the early innings of a short-term breakout. Bursting with energy, the dollar basket closed (on Dec. 22) above its declining resistance line (although more data is needed to confirm a larger move). Q3 2020 hedge fund letters, conferences and more Dollar's Epic ComebackAnd to quote Francis Bacon, because “we rise to great heights by a winding staircase of small steps,” Tuesday’s ‘small step’ may be the beginning of an epic comeback. Please see below: In this week’s early trading, the USDX moved lower and then rallied back up, af...
ValueWalk
It’s evident that stocks have once again invalidated the breakout above their early-2020 high. They have also closed the week below the lowest weekly September close. Back in September, the S&P 500 index reversed on a weekly basis and rallied once again. This is similar to what happened in 2018 (August) when stocks first broke to new highs. Back then, the volatility was lower, and therefore it’s no wonder that the breakout held and this time (in September) it was temporarily invalidated.Q3 2020 hedge fund letters, conferences and moreBack in 2018, stocks moved to a new high (not significantly ...
ValueWalk
In the global financial world, with a highly interconnected economic dependence, commodities, energy, materials, and in particular, currencies play a pivotal role in the stock market’s heterogeneity and connectivity. This applies to gold as well as the world’s busiest precious metal marketplace.Q2 2020 hedge fund letters, conferences and moreThe Inverse Relationship Of Gold And The US DollarUnder normal conditions, gold and the US dollar are in an inverse relationship. Due to its worldwide denomination in USD, any USD weakness pushes gold prices up, and vice versa. Therefore, as far as the USD...
ValueWalk
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