USD, monthly2, rainbow
*it is notable - from monthly'2, the MACD (green bar histogram) has turned negative for the first time since July 2014.
Of the last 12 monthly candles... 10 were blue, and price structure is a clear double top from the giant psy' level of DXY 100.
In the long term, the US dollar still looks the superior currency in the world.
China looks set to devalue the Yuan this year.. perhaps as much as 25/35%.
Meanwhile, the BoJ and ECB continue to print, and with further economic weakness, will likely spin up their printers even more. That will only help to keep downward pressure on their currencies.
Market/Econ chatter from Schiff
Friday will see the latest monthly jobs data from the BLS. Market is expecting net job gains of 188k, with a static jobless rate of 5.0%.
other data: intl' trade, consumer credit.
Goodnight from London