S&P500 Index drives up the dollar index (DXY).
As you can see, the U.S. market was steadily growing the last 5 days. This exact moment will, of course, motivate investors to move back their money into the U.S. assets, what increases the demand for dollar. Moreover, yesterday’s FOMC report shows: the rate hike is coming soon, the Fed’s balance sheet to be eased (it has the same effect as rate hike does).
OPEC: Saudi Arabia says that it’s not necessary to cut the production enormously, so the oil drops in price and people are moving to the dollar assests.
OPEC: Saudi Arabia says that it’s not necessary to cut the production enormously, so the oil drops in price and people are moving to the dollar assests.
Note
Ok, we got an expected positive gap. Good signal.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.