McCullough: Dollar ↓ Commodities ↑

09/14/20 04:24PM EDT

Below is a brief excerpt transcribed from Monday's edition of The Macro Show hosted by Hedgeye CEO Keith McCullough

McCullough: Dollar ↓ Commodities ↑ - 9 14 2020 12 50 46 PM

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.

McCullough: Dollar ↓ Commodities ↑ - 9 14 2020 2 03 10 PMThat 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.

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