USD continues to cool

As expected, the USD is continuing to cool, settling the day -0.2% @ DXY 96.89. There is a clear break of the broad upward trend from last May... first downside target are the 93/92s. After a retrace into the summer, the USD looks set to resume higher.. to the 120s.


USD, weekly

USD, monthly

Summary

*the giant monthly cycle is offering the first net monthly decline since May 2014.
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USD is cooling... and a retrace into the summer is now well underway. That has broadly bullish implications for equities and most commodities.
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Looking ahead

Tuesday will see the FOMC meeting begin, along with Case Shiller, Consumer con', and Richmond Fed'.
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Goodnight from London