- It’s a global game of Whack-a-Mole (currency devaluation) and in this game certain countries and economic zones make sense in some ways. Japan for instance may be viewed as USA circa 2004  Yen over sold, USD example implies bounce w/ Nikkei correction before any opportunity presents. Germany is also an exporter of machine tools, autos and equipment. The US is interesting for a completely different set of dynamics.
- India lifts its gold restrictions while Switzerland votes down the ‘Save our Swiss gold’ referendum. Hype up, hype down. Hype.
- Macro indicators are in flux, trends are what they are and NFTRH 319 meandered from its usual format a bit and covered what I think needed to be covered considering year end dynamics (Santa seasonals) on the short-term and bigger picture views as well.
- Inflation is losing out to its evil twin, deflation. Even though this chart shows the T bond rising long-term (as if inflation has not been a problem) with the CPI rising right along with it. Bond Vigilantes? Hello?
Suffice it to say, there is a lot going on and there are a lot of diverse signals in play. Keep your heads screwed on straight and tune out the hype that is on 24/7 auto feed.
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