The USD is down throughout the board with US yeilds, whereas shares are buying and selling larger, however at the moment we are going to bought a launch of the FOMC minutes, so its a delayed info from November 1st, that means that at the moment’s launch of the minutes can remind us that 2% inflation goal continues to be distant, so this will probably set off some reduction rally of the DXY. That stated, we might even see some pullback that can permit us to be brief {dollars} from higher ranges. Trying on the Elliott wave construction, I certainly wouldn’t be shocked to see wave 4 right here, if present hourly trendline help is damaged. US yields have 5 down as nicely.
Additionally, I see SP500 shifting into some robust resistance space, the place pullback down could cause some rally for USD too. Lets not overlook to say some shares revenue taking forward of Thanksgiving holidays.
Grega
