• Investing Insights & Exclusive Offers → Get Our FREE “Market Brief”
    Sign-up for our free weekly newsletter. Get unparalleled investing insights and exclusive Summer Sale discounts on Hedgeye research.

    Disclaimer: By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. Use of Hedgeye and any other products available through hedgeye.com are subject to our Terms Of Service and Privacy Policy

Since the US Dollar put on such a big move in such a compressed period of time (+8% in a month), it has the potential to correct expeditiously. Today the US$ Index is down 94 basis points at 76.22, which is the biggest down move we have seen in weeks. Immediate term support was at 76.57, so that line is broken. Next stop is 75.70, then we have the more meaningful support line at 74.17. If Bernanke panders to the easy money crowd tomorrow in Jackson Hole, this move down in the US$ and coincident re-flation of crude oil, gold, etc. will continue.
KM
  • US$ Support is way down at the $74.17 level