NZD/USD Reality Check Incoming
Some possible long overdue risk-off sentiment could be inbound as US cities are overrun by rioters and protesters. A lift in demand for USD again will come as a result of a long squeeze in the equity markets, where a correction is long overdue. Market participants really need to come back to reality as the Nasdaq Composite flirts with ATHs in the middle of a pandemic, with record high valuations, mass rioting, trade wars, and the global economy on the brink of collapse. Up until now, the stock market is taking nothing into account and continues to rally on the back of nothing more than Fed liquidity. If anyone had any doubts about how fake the equity markets are, well, now they know.
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