From the Desk of Ian Culley @IanCulley
Equities like a deadstick dollar.
But stocks can’t always get what they want – or “like.”
A swift 5 percent gain in the US Dollar Index $DXY was not on the S&P 500’s wish list.
Yet that’s what the dollar served up following its mid-July failed breakdown.
Unsurprisingly, stocks have struggled since, peaking less than two weeks after the dollar posted its year-to-date low.
The DXY is now challenging a critical overhead supply level as dollar bulls have once again lowered their horns.
But will they finally hook ’em by the end of the week?