Editor's note: This is a brief excerpt from Hedgeye morning research. For more information on how you can become a subscriber click here.
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Good #StrongDollar morning to you!
The +0.6% USD Index move to +5% year-to-date is good for plenty of commodity-based inverse correlation moves (see #deflation); WTI Oil -1.2% (after a -5.3% week), Gold -0.7% (after a -1.8% week) – Copper still looks like death.
Click image to enlarge.
On a related note, Japanese “Weimar Nikkei” is all sorts of jacked up on weak Yen (vs USD) to 15-year highs at +5.8% year-to-date – and this is after plenty of headline news that Japanese Corporates (70% of them) see “no need for more easing.”
We can’t imagine why… it’s only been 18 years.