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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (25131)	1/26/2017 3:06:57 PM
From: Goose94	Read Replies (1) of 203260

King Dollar Should Continue to Prevail Multi-week correction in the USD Index after peaking at 103.815 on 1/3/17 and trading down to 99.76 in the early morning hours today. Since this morning, we’ve seen a strong rejection of the low, trading as high as 100.73 in today’s session. With the recent upward trend in growth and inflation (CPI hit a 32 month high) since the 4th quarter of 2016, we fully expect the USD remains locked in its bullish formation at least in the near-term. Tomorrow, we’ll receive another US GDP reading (Expecting 2.2%) and US Durable Goods Orders (+2.6% Expected), and could provide further evidence of a strengthening economic picture here in the US. This coupled with a “hawkish” tilt to the Federal Reserve, should further strengthen the case for a strong dollar in weeks to come. The dollar should fight to overcome its recent downward slide as the data continues to paint a brighter picture, but must first overcome its down channel resistance level of 101.25. Good Luck! John Caruso

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