The USD settled net lower for the second consecutive week, -0.6% @ DXY 97.12 (intra low 96.90). The USD appears to have maxed out at 100.71, and now in the process of a sig' retrace... at least to the 93/92s. A weaker USD has important implications for all aspects of the US capital markets.
*without going over everything I noted in yesterdays closing post, I wanted to just highlight the end week situation.
So.. a net weekly decline, and an arguable break of rising trend/channel.
USD is on its way lower.... which will help prop up equities.. and especially WTIC Oil.
The monthly 'rainbow' candle is now blue.. offering a hint of what is likely a retrace into the summer.
Goodnight from London
*the weekend post will be on the US weekly indexes