Rates Higher-for-Longer; Vax U-Turn in Progress
Rates Higher-for-Longer; Vax U-Turn in Progress
The buck rose 0.78 [+0.76%] to 103.53 this week, managing to close above the 50 moving average (MA) on Friday for the first time since the big decline began back in November 2022. My weekly DX (dollar) model isn’t quite in bullish mode just yet, but as you can see, this is the first two-week rally for the buck in four months. The “swing low” candle is mildly bullish as well. Note that Powell talked about inflation on Tuesday. CNN provides some of the details: “We didn’t expect it to be this strong,” Powell said of the January jobs report,
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