CHART OF THE DAY: Fade Your Feelings In The Moment

So many hashtags because I have so little time to write this in the morning! But let’s get into contextualizing why getting The US Dollar right helps you get most big things in Global Macro right:

1. US Dollar Index crashed to an immediate-term #oversold sold Cycle Low last week (down -2.5% in the last month)
2. EUR/USD was up another +1.2% last week (+3.4% in the last month) signaling immediate-term TRADE #overbought
3. Yen was +0.7% vs. USD last week and remains Bullish TRADE and TREND @Hedgeye 
4. GBP/USD ramped +2.3% last week also signaling immediate-term TRADE #overbought within its Bullish TREND
5. Canadian Dollar was 1^st in with a stealth -0.1% correction last week after being +2.3% in the last month
6. Sri Lankan Rupee was down another -0.6% vs. USD last week to -1.6% in the last month

Yeah, if you’re measuring and mapping all of Global FX, every weekend, for the last 14 years, you know you’re getting towards the end of a big FX move when Sri Lanka’s currency can’t go up anymore vs. America’s devalued Dollar!