USD has bounced to the 50 day moving average
As anticipated, USD (DXY) has bounced back to former upside target #2 and the underside of the SMA 50. This on Fed hawk anticipation and I assume the waning of market liquidity.
If the Gold/Silver ratio also turns up and both of them keep going (the 2 horsemen ride), unpleasant is going to be way too soft a description for the markets, including or even especially the inflation markets. If not, if they hold and resume downward it’ll probably correspond with some kind of ‘buy the hawkish news’ event or dovish little sweet nothings FOMC may utter. I don’t expect that second thing until a lot more damage is done, but you never know.
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