US Dollar Rally Near Critical Inflection Point

au.investing.com/analysis/us-dollar-rally-near-critical-inflection-point-200605172

By Chris Kimble | Nov 09, 2024 07:25

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In a world where the US Dollar still makes the world go round, it’s vitally important that investors pay attention to potential pivot points for the buck.

There’s a reason why we call it King Dollar.

When it is weakening, we often see a tailwind for gold and other commodities and sometimes stocks and bonds. And when strong, the opposite.

Lately, we have seen a stronger Dollar that’s rising with interest rates (and that’s hurt bonds). But that could be coming to a halt.

US Dollar Weekly Chart

Today we look at a “weekly” chart of King Dollar to highlight a critical inflection point for this market mothership. As you can see King Dollar’s 6-week rally is facing what might be an 800-pound inflection point at (1). Triple resistance.

Time to head lower? Or breakout higher? In my humble opinion, what happens here will be important for many assets. Especially Gold and Bonds. Stay tuned.

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Central Banks

Interest Rates

Next Meeting

RBA

4.10%

Apr 01, 2025

BOE

4.50%

Mar 20, 2025

ECB

2.90%

Mar 06, 2025

FED

4.50%

Mar 19, 2025

SNB

0.50%

Mar 20, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

S&P/ASX 200	8,245.70	+73.30	+0.90%
ASX 200 Futures	8,243.0	+103.0	+1.27%
ASX All Ordinaries	8,478.80	+74.90	+0.89%
US 500	5,979.1	+24.7	+0.41%
Dow Jones	43,840.91	+601.41	+1.39%
China A50 Futures	13,195.0	-41.0	-0.31%
Dollar Index	106.800	-0.758	-0.70%

Crude Oil WTI	70.01	+0.25	+0.36%
Natural Gas	3.885	+0.051	+1.33%
Gold	2,882.09	+33.59	+1.18%
Silver	32.237	+0.741	+2.35%
Copper	4.6160	+0.0680	+1.50%
US Sugar #11	18.43	-0.09	-0.49%
US Coffee C	383.28	+10.23	+2.74%

Australia 10Y	4.389	+0.054	+1.25%
Australia 5Y	3.915	+0.046	+1.19%
New Zealand 10Y	4.537	+0.035	+0.89%
U.S. 10Y	4.254	+0.025	+0.59%
Japan 10Y	1.400	-0.004	-0.28%
China 10Y	1.775	-0.007	-0.39%
Singapore 10Y	2.746	+0.007	+0.26%

CSL	262.00	+1.43	+0.55%
Woolworths	30.070	+0.060	+0.20%
ANZ Holdings	29.760	-0.030	-0.10%
Commonwealth Bank Australia	157.130	+0.390	+0.25%
Telstra Group	4.220	+0.080	+1.93%
National Australia Bank	35.320	+0.020	+0.06%
BHP Group Ltd	39.600	+0.560	+1.43%

US Dollar Rally Near Critical Inflection Point

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