weakening dollar

[ruthenium]

Brutus2 You might want to weight those changes by GDP when making a composite....when I do that I get down 1.2%

[brutus2]

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nearly as strong as the outdated DXY would indicate)

[oak333]

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

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

[ruthenium]

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/

[golditiki2]

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+++

[SilverPalm]

DXY now above 114 & the pound is falling off a cliff. $1.07 when last I looked.

[golditiki2]

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+++

[ruthenium]

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...

[SilverPalm]

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

[yellowsnow]

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