TheTrex
Long

Trading DXY? Better have a look here!

TVC:DXY   U.S. Dollar Currency Index
DXY is currently in 2 channels which both have good possibility to be retested at the upper channel top. What can cause the rise of a stronger dollar? One cause can be people selling large amounts of stocks back for dollars creating a strong demand for cash, this is also what the M2 and MZM velocity of money is indicating. It seems to have hit bottom and amount of dollars being constantly traded (times of volatility ). Additionally Unemployment is reversing upwards, can cause a greater demand again to have cash available as luxury goods/assets are being sold to feel safe.

Concluding I personally think the starting of a bear market for stocks can fuel increasing demand for the dollar.
Comment: Ghost Pattern of Boxes
Trade active: Global economic growth is being hit more significantly than many anticipate and calls for an impending U.S. recession now look increasingly credible, which is bad news for risk assets, according to Europe’s top-ranked strategy team at Societe Generale SA.

The Fed’s dovish pivot should cast doubts on how the last leg of this cycle will unfold, with investors likely to see profit warnings, defaults and increased volatility over the next 12 months, they wrote in a report Thursday. That may be favorable for Treasuries but necessitates an underweight stance on equities, credit and the dollar, they concluded.

“The damage to economic momentum and earnings seems real,” said Alain Bokobza, head of global asset allocation at the bank in Paris. “This time, easy monetary policy may lack the strength to turn the tide and avoid a recession.”

https://www.bloomberg.com/news/articles/...
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