Wednesday, October 14, 2015

Dollar reaches a nexus as death cross points trend downward for foreseeable future

Back in March, the dollar was the most wanted currency in light of the Greek crisis, and ongoing currency wars raging between dozens of countries.  In fact, the U.S. reserve currency was perceived as such a safe haven that it sat at over 100 on the index, with nations moving large amounts of their currencies into the dollar to hedge themselves from local and geo-political turmoil.
But as the U.S. markets peaked in May, and began a slide downward over the summer, trust in the dollar has waned, especially as the Chinese Yuan began to take market share in global trade.  And on Oct. 14 the dollar reached a disturbing nexus that could foretell an even greater trend downward as it created a death cross for the first time since 2013.

0 comments:

Post a Comment