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Thread: weakening dollar

  1. #21

    Default BRIC nations gold average

    Brutus2 You might want to weight those changes by GDP when making a composite....when I do that I get down 1.2%
    Last edited by ruthenium; 07-17-2022 at 11:43 AM. Reason: added title

  2. #22

    Default

    Quote Originally Posted by ruthenium View Post
    Brutus2 You might want to weight those changes by GDP when making a composite....when I do that I get down 1.2%
    Fair enough Ruthenium.

    Other than the strong showing of Brazil and especially Russia ( currency) being overly representative the point still remains the same. The DXY is not representative of dollar strength and it vastly
    overstates it.

    Since the DXY purports to measure a basket of currencies that the US trades with ( 83% of its weight is Euro, Yen and pound) while those 3 actual total trade with US represent only 23%, a much more representative
    snap shot would be the following. ( China, Canada and Mexico represent 41% of total trade with US and all 3 are roughly equal in that trade so.

    Country VS US vs Gold
    Canada -3% +3%
    Mexico -3% +3%
    China -4% +2%


    combined rounded -3% +3%

    Euro -16% -10%
    Japan -24% -19%
    pound -16% -10%
    average -19% -13%


    The lower weighting of Japan as well as small weighting of Canadian dollar drags overall DXY towards -16% and -10% for weighted DXY

    The net result is very similar except not quite as pronounced as my original assertion. That the US dollar is not up that much vs the currencies that matter the most ( major trading partners),
    that Gold is actually up a lot against the weak sisters that compose most of the DXY, and that the mainstream press continues to exaggerate the relative real strength of the US dollar ( yes it is stronger but not
    nearly as strong as the outdated DXY would indicate)

  3. #23
    Join Date
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    Default

    China and Russia confirmed that they will create a new world reserve
    currency, based on BRICS currencies.

    https://www.silverdoctors.com/headli...ashless-reset/

  4. #24

    Default Dollar on trend boundary....

    see my 7/17 post this thread #20....it took the weaker path despite 75 bp rate hike....

    https://www.tradingview.com/x/nSobBpP1/

    hesitating...but not broken...interesting given the BRICS currency lack of coverage in main media....from the 7/17 post for comparison..

    https://www.tradingview.com/x/hLeCtOuE/
    Last edited by ruthenium; 07-31-2022 at 11:39 PM.

  5. #25

    Default

    most of the world' old debt is in dollars i guess and some has to be paid back every year, so that will hurt all those who have now weak currencies. on the other hand collecting profits from those meager currencycountries will lower the profits of american companies whho fleece these today low currency coutries. Everything has two sides.

    Golditiki2+++

  6. #26

    Default

    DXY now above 114 & the pound is falling off a cliff. $1.07 when last I looked.
    “The Federal Reserve is not currently forecasting a recession.”
    Fed Chairman Ben Bernanke, January 2008
    This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.

  7. #27

    Default

    One euro is now 97 us cents. We europeans do not need a sparring partner, we knock ourselves KO and we are proud of our actions, when knocking yourself KO y're also a winner, we are so strong our prime minister urges the ECB to QE !!!

    Here in the North a lot of vegetables and other stuff are produced in heated locations, that cost is of course surging and yesterday somebody said a kilo of tomatoes will cost 15 euros. Already such greenhouse bred tomatoes are tasteless, and if they cost 15 euro a kilo ( little more than two Lbs ), they will be forced to eat them themselves.

    We are still under the influence of our media drugs, the reality djinn will appear in the months to come.

    Golditiki2+++

  8. #28

    Default Dollar now re starting...

    https://www.tradingview.com/x/Ga8ks64S/

    goldtiki2 as for warm veggies....switch to cooler ones broccoli and Kale

    spinach instead of basil..

    I just made some walnut basil pesto from my yard...but it will be spinach in the winter.. or Kale if it gets too cold...
    Last edited by ruthenium; 10-10-2022 at 01:46 PM. Reason: typ;os and title. wrong link

  9. #29

    Default

    Is it time to buy the chf?
    https://www.xe.com/currencycharts/?from=USD&to=CHF

    According to these guys, the Fed just did -
    https://www.zerohedge.com/markets/fu...land-swap-line
    “The Federal Reserve is not currently forecasting a recession.”
    Fed Chairman Ben Bernanke, January 2008
    This is no longer posted in the Fed Minutes of January 2008, but still quoted here - https://www.nbcnews.com/id/wbna22592939. The FOMC minutes still quote MR. Reifschneider. as stating the same thing.

  10. #30

    Default

    Quote Originally Posted by SilverPalm View Post
    Is it time to buy the chf?
    https://www.xe.com/currencycharts/?from=USD&to=CHF

    According to these guys, the Fed just did -
    https://www.zerohedge.com/markets/fu...land-swap-line
    even the rock solid swiss franc has been shook

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