us dollar somewhat got whacked early in the EURO MARKET, despite it attemped to claim it's strength in the first half day of the trading day in New York, the us dollar failed totally.
us dollar closed near its day low @114.05.
Japan Yen came out the strongest, Swiss next, Euro third, Canadaian fouth, and Even Aussie came out as winner.
Here we go, despite the fact that the currency market did not get 2nd run of ECB {11 nations} concerted intervention, us dollar fell by its own weakness which has been viewd by concensus of the currency traders.
The down trend of this us dollar has establish, it will go downward and forward from here.
Gold and our xau will move up forward and upward.
Spot Gold in New York strongly breakout that $270, $271, and $272 except last minutes day traders market out at closed,\.
Clearly, Dec gold some stop buys were kicked in, indicating gold is very bullish.
Continued on going slaughters of Dow, S$P, especially, Nasdaq added fuel to the falls of that us dollar.
This week two huge inflation macroeconomic data due to come, namely, Retail sales, and PPI which I beleive will whack that us dollar to 106 and gold near that $295-300 and XAU 75, and heading to that 90 for near future to come.
John Paquet |
