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Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough |
Is it an up day for the U.S. Dollar?
That would be a “no.”
After two up weeks, we have a down day for the dollar.
That means good things for Commodities, broadly. But remember, if you get the dollar right, you’ll get basically everything else right. Take a look at the inverse correlation table.
That looks bright red to me.
On a Dollar up day, “Stahks” are going to go down. On a Dollar down day “Stahks” and Gold are going to go up.
Pay close attention to that. That is why the Dollar has been a key focal point for us since these correlations strengthened on a Hedgeye trending basis.