My friend in India says:It’s the US dollar story for precious metals, base metals and energies. US dollar gains, the invincible crude oil also falls. The big question is whether the US dollar has bottomed out against the major’s. In my view, we need to wait and watch for the Fed meeting and the April payrolls next week. If and only if both of them confirm that the US economy will recover, albeit at a snails pace over the coming months that the US will continue to gain else gains on the greenback will be used as an opportunity to go short. Growth differentials between US and other nations will play a key role for the US dollar over the next few months. The lagging effects of higher food and energy prices will be felt globally over the next few months which will set the tone for the US dollar against emerging market currencies.Commodity markets are very volatile. If one trades against the trend, all his stop losses get triggered. However the volatility has followed the medium term technical charts. Sometimes short term technical charts give reverse trading signals. As and when short covering comes, commodities will gain. The short term technical picture is still negative.
- | Joined Apr 2007 | Status: Member | 2,387 Posts
"what doesn't bankrupt me, makes me stronger" modern nietzche
- | Joined Apr 2007 | Status: Member | 2,387 Posts
"what doesn't bankrupt me, makes me stronger" modern nietzche
- | Joined Apr 2007 | Status: Member | 2,387 Posts
"what doesn't bankrupt me, makes me stronger" modern nietzche
- | Joined Apr 2007 | Status: Member | 2,387 Posts
"what doesn't bankrupt me, makes me stronger" modern nietzche