U.S. Dollar IndexShort
USD under pressure
USD was overstimulated with generous tax cuts in 2018 and now has to pay the price. The ongoing trade war with China is adding pressure. The rising wedge has already broken. The rejection at the higher clone levels suggest a fall back to the bottom of a long established channel.
Commodities will be boosted by this fall and that will add to inflation worries.
The next stage should be interest rate rises, but that will be politically unacceptable with the US elections drawing near. If rates don't rise, then USD will continue it's downward move.
Commodities will be boosted by this fall and that will add to inflation worries.
The next stage should be interest rate rises, but that will be politically unacceptable with the US elections drawing near. If rates don't rise, then USD will continue it's downward move.
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