The Saga Continues….
The Trend in the US Dollar Index has been down for a long time. That’s no secret. But where do we go from here? UBS Chief Technical Strategist Peter Lee discusses the US Dollar Charts and what that means for Commodities (via Yahoo Breakout)
So again, if you are a commodity player, and you are getting whacked this week in your crude oil position, do you give up on that trade? Lee says emphatically, “No…bulls clearly have been winning for the last 7 to 8 years (in commodities). We respect the dominant trend. The prevailing trend is still up which suggests this is a consolidation phase.” He adds that if you believe the dollar is headed lower, commodities will go up.
The Great Debate (BigPicture)
Thoughts on the Euro (PragCap)
Foreigners Still Buying Treasuries (EconomPicData)