The World is dumping the US Dollar !

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[Eloquent pilgrim]

Garbage 

[ozimoron]

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.

 

Edited March 31, 2023 by ozimoron

[Mac Mickmanus]

10 minutes ago, Eloquent pilgrim said:

Garbage 

Great to hear that , I was a bit worried there for a minute

[ozimoron]

Gold seems to be on a steady roll since August 2022 to now which also needs a low US dollar. About 1950 is support and 1900 below that.

 

Edited March 31, 2023 by ozimoron

[ozimoron]

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

 

 

[nigelforbes]

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.

 

The US has been dumping since September, really!

[ozimoron]

6 minutes ago, nigelforbes said:

The US has been dumping since September, really!

That's what the chart says.

[3NUMBAS]

who would want to rely on rubles or renimbi  ..junk status

[ThailandRyan]

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.

 

 

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 ......

[Isaan sailor]

If USD tanks—will take other western currencies down with it.  Say goodbye to western tourists, exports and expats.

[nigelforbes]

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.

 

 

 

 

 

 

 

[Pique Dard]

11 hours ago, nigelforbes said:

The US has been dumping since September

...the beginning of the end of the us hegemony?

[nigelforbes]

2 minutes ago, Pique Dard said:

...the beginning of the end of the us hegemony?

There's no viable alternative at this point.

[Caldera]

I'm happy to announce that I still accept the US Dollar. "The World" can send all of the dollars it wishes to dump to me.