Considering that everything but gold is in positive alignment with the inverse of the US dollar I’d say that if USD is not THE most important signpost to the current macro, it is certainly among them (long-term yields, yield curve and inflation expectations are up there as well).
Here is the DXY this morning looking like it is eyeballing the down-trending SMA 200 (92.90) after taking out the 92.15 objective. It’s either a latter stage bounce in Uncle Buck or something more (ref. resistance at 94.64), that would pressure the macro markets significantly. Right now, it’s ‘bounce only’.