Editor's note: This is a brief excerpt from today's Morning Newsletter written by Hedgeye CEO Keith McCullough.
To review this most recent 3-day counter-TREND move in macro markets:
- It’s all about the Dollar
- Reversing an epic 6 month #StrongDollar move started with a bad US GDP print on Friday
- Down Dollar’s counter-TREND move picked up momentum when the ISM # slowed on Monday
- By Tuesday, the EUR/USD was headed to the top-end of its $1.11-1.14 risk range
- USD had one of its biggest DOWN days in a year (yesterday)
- CRB Index had one of its biggest UP days in a year, closing +3.2%