Do you have any theory for that indifference to the $USD index,
which began in early December? My guess is that the American Fed
(ie., domestic banks) is supporting the market here, and they don't
care about the euro and other currencies. Or, it is the Chinese and
Japanese Central Banks, who don't want to collapse their own
markets, so they will support the US markets for as long as they
can. Their pain threshold should come at 81.5, based on the most
recent dollar action (quick drop from there). FWIW.
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dollar
US Dollar 240 min
Posted by perthx on 4th of Mar 2010 at 12:01 pm
dollar had cyclical bottom yesterday
Should be up until end of March/early April now. Market wont pay much attention till we see 81.5 (new highs) probably but gold is already feeling it.
Do you have any theory
Posted by junkie on 4th of Mar 2010 at 12:14 pm
Do you have any theory for that indifference to the $USD index, which began in early December? My guess is that the American Fed (ie., domestic banks) is supporting the market here, and they don't care about the euro and other currencies. Or, it is the Chinese and Japanese Central Banks, who don't want to collapse their own markets, so they will support the US markets for as long as they can. Their pain threshold should come at 81.5, based on the most recent dollar action (quick drop from there). FWIW.