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The World is dumping the US Dollar !


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The US has been dumping since September. The Aussie is close to a low of 0.66c which it has frequently defended in the past aside from a brief notable run down to 0.50c. That would indicate a further decline in the US coming. At the end of the 70's the AUD was worth more than the US and at least once since. AUD is pushed by gold prices to some extent and gold is likely to rise if there's a US recession. Some economic fundamentals like inverted bond yields with the 10 year at critical levels of support don't bode well for the US I think. Failure of the US to hold this level of support might be ominous and might portend a recession coming. The gold bugs are suggesting that gold might get a lot more expensive later this year and further.

 

This is the DXY for the past year.

 

dxy-march-2022-to-april-2023.png.b5acfd48f5e66525d4094b7a4ce2beb8.png

Edited by ozimoron
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1 hour ago, ozimoron said:

The US has been dumping since September. The Aussie is close to a low of 0.66c which it has frequently defended in the past aside from a brief notable run down to 0.50c. That would indicate a further decline in the US coming. At the end of the 70's the AUD was worth more than the US and at least once since. AUD is pushed by gold prices to some extent and gold is likely to rise if there's a US recession. Some economic fundamentals like inverted bond yields with the 10 year at critical levels of support don't bode well for the US I think. Failure of the US to hold this level of support might be ominous and might portend a recession coming. The gold bugs are suggesting that gold might get a lot more expensive later this year and further.

 

This is the DXY for the past year.

 

dxy-march-2022-to-april-2023.png.b5acfd48f5e66525d4094b7a4ce2beb8.png

The US has been dumping since September, really!

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35 minutes ago, ozimoron said:

Possible hidden bullish divergence on gold over the past couple of weeks, also not good for the dollar if this plays out.

 

 

gold-hidden-bullish-div-mar-2023.png

If it goes higher like 35k Thb per 1baht of gold I will sell the 100 2 baht bars I have stocked up on over the last few years and invest in Chinese fortune cookie companies ......

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11 hours ago, ozimoron said:

That's what the chart says.

I don't think it says that at all! I think what that chart says is that USD has strengthened against AUD, and against almost every other currency, for much of that year. I'm sure some investors will have traded but that applies to investors in every currency, not just AUD.

 

613701040_Screenshot(91).png.90615ef330692fd28a14f38d1cfca9ce.png

 

 

 

 

 

 

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