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WTI:DXY comparison chart is one of my favorite macro crude oil charts to look at because it provides a true GLOBAL price of oil adjusted to an entire basket of currencies, not just USD itself. Once we take a look at the chart above we see just how RARE this drop is on a relative basis. To put it in perspective, the WTI during $147 peak was 205% the DXY, and now it is just 12%!! (8% at the lows if you count that)…. needless to say this is a generational low. the bigger issue is its running out of downside room so the bottom is approaching soon…
USDJPY is a major indicator of the Yen Carry Trade as Japanese citizens have the highest savings rate in the world and a larger portion of them invest in both our equities market as well as our US Treasury market, so any time they buy their yen are exchanged for US dollars thus putting upside pressure on USD & downside pressure on JPY naturally boosting this pairs ratio.
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WTI:GOLD comparison chart is one of my favorite macro crude oil charts to look at because it provides a true GLOBAL price of oil adjusted to an entirely outside the entire world of currencies, not just USD itself! Once we take a look at the chart above we see just how RARE this drop on crude price in Gold bars is on a relative basis… needless to say this is a generational low. the bigger issue is its running out of downside room so the bottom is approaching soon…
The “Great CAD Awakening” is finally upon us. Nearly 1 year ago I forecasted that USDCAD was going to entire a great strengthening period and once it did it would going to be an extremely powerful bull market for the CAD. Sure enough 1.24 came & went as price action flushed straight through the 200MA it it wasn’t even there. Notice how that prior bull period also coincided during the last major Oil Super-Bull market. MACD crossing centerline without slowing & Stochastics
The Australian Dollar (AUD) is the currency unit used in the Commonwealth of Australia. … The Dollar is rated by the World Foreign Exchange market as the fifth most-traded currency in the world. The Australian Dollar is also known as the “Aussie”.
The Europound market involves deposits of British pounds outside of the jurisdiction of the Bank of England. This currency pair is especially important because it is the two largest currencies in the DXY US-Basket of currencies, thus it is paramount in the Global Forex Parity thesis.
( 5-12-21): AUDCAD so far has clearly rejected at that upper purple TL resistance. However, like prior rejections price action has flushed all the way back to the BC before returning back up, so just because the 13MA did not hold it does not necessarily mean it cannot return back up to that TL. However, with that said…