-
All Aboard the Yuan Bullish Story, USD Unloved
A familiar theme continues to pan out in financial markets. By looking at the charts, and represented in the table above, we can clearly see how the environment remains aggressively USD negative. The next wave of selling has finally produced an inflection point in the macro flows as depicted by the downward slope in the 125-HMA (5-DMA). From a market structure standpoint, the selling in the DXY has opened up further downside after achieving a successful rotation lower. The USD weakness is also manifested via lower US yields and a much higher Gold, closing at nearly $1,340.00. As part of this excess of USD supply, US ... (full story)