Currencies (NFTRH 709 excerpt)

A brief look at currencies Excerpted from the June 12 edition of Notes From the Rabbit Hole: Currencies All hail Uncle Buck! Especially those who’ve been guiding their herds against it not only over the last bullish year, but since the bullish Goldilocks flavored up-surge in 2014 and well, ever since I began seriously paying attention to the global macro in 2002. The USD, AKA … Continue reading Currencies (NFTRH 709 excerpt)

Currencies (incl. Bitcoin) vs. USD

Global currencies and Bitcoin vs. USD Reference a previous post on ‘commodity currencies‘ From NFTRH 705‘s Currencies segment… Everybody in this sad picture is as they were last week. The reserve currency is sucking up all that liquidity fleeing the risk ‘on’, inflated cyclical asset world and the other ‘non-reserve’ currencies are being exposed as the fundamentally valueless instruments they are. Of course USD is … Continue reading Currencies (incl. Bitcoin) vs. USD

Commodity currencies must stand and deliver, or break down

CAD and AUD are each at important support vs. the US dollar index There are just too many important support touch points on CAD/USD for this not to be a key support area right here. The same holds true for AUD/USD. These two commodity currencies have been joining fellow inflation-divergent items like the Gold/Copper ratio, Gold/Silver ratio, TSX-V/TSX ratio and the firm state of the … Continue reading Commodity currencies must stand and deliver, or break down

Bitcoin: Acting like the speculation it is

As USD and Gold rise, Bitcoin acts like the speculation that it is The US dollar is roofing… Gold is also getting the global liquidity bid. And then there is BTCUSD, acting like a speculation along with all the other speculations the world over. Where’s Tom Brady and what’s her name, the hotel heiress come crypto big mouth when you need them? For “best of … Continue reading Bitcoin: Acting like the speculation it is

Speaking of Uncle Buck, he has a story to tell

What worked at the beginning of the inflationary phase will probably work in reverse at the end As USD pops today to test the breakdown from the SMA 50… I am by no means calling an end to the inflation trades yet (near/intermediate-term targets are higher), but I am telling you that the reputations being made (or in many cases re-made) among the ‘Commodity Super … Continue reading Speaking of Uncle Buck, he has a story to tell

Uncle Buck continues to rampage

The US dollar (DXY) continues to target 98 In Q1 2021 USD bottomed amid the usual suspects proclaiming “dollar collapse!” and “death of the dollar!” and inflation as far as the eye can see. Zero Hedge led the charge. As the inflation trades labored into the spring USD formed a neckline (black dashed), dropped for an interim (at least) last hurrah by the inflation boosters, … Continue reading Uncle Buck continues to rampage

US Dollar dings target #1, inflation trades still on

USD (DXY) makes a 38% Fib retrace USD (futures, DXY) has been in an uptrend for all of 2021. The uptrend was birthed by the March high and subsequent higher low in May, which turned out to be the right side shoulder we then began to manage. That shoulder was to an Inverted H&S bottoming pattern with three upside objectives. #1 is being hit at … Continue reading US Dollar dings target #1, inflation trades still on

Uncle Buck on a rampage against the macro this morning

US dollar (DXY) holds support at the SMA 50 There is a reason I keep an eye on divergences within markets (USD has been one against inflated markets for all of 2021), trends (USD trend is up since January) and support/resistance/moving averages. Today, even if in microcosm, USD informs us that it is alive and well as of this moment and by extension, a threat … Continue reading Uncle Buck on a rampage against the macro this morning