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Dollar Suffers Worst Month In 4 Years - Ends Record Streak Of Gains
After an unprecedented 9 months in a row of gains, for a greater-than-27% gain, The US Dollar slumped in April. Down 3.5%, this is the biggest monthly drop for the greenback since April 2011 (near the end of QE2).
As we noted yesterday, this could be a major problem as a USD-reversal is likely to drive the great unwind of consensus positioning...
as Long Dollar is one of the most-crowded trades in the world today...
The Great Unwind begins... to accelerate
Charts: Bloomberg and Cornerstone Macro
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Yawn... Let everyone know when it gets to zero...
The FED is shooting for sub-zero since they'll have to pay us to take them and throw in free wheelbarrows to haul them off in.....
BTFDD (buy the fkg dollar dip)
Is this ZeroHedge calling the bottom in USD? The fact is that international corporations borrowed USD and have to repay in USD - hence the price of USD goes up. This could just be a buying opportunity in USD. Today it hit the 100 dma and bounced.
Inflation for the world & a soaring GBP (Buy it while it's HOT HOT HOT!)
/double sent in error/
Bubble bucks?
i'm inclined to agree. as much as i think that there are longer term secular reasons for the dollar to underperform (losing reverse currency status anyone?), turmoil in international financial markets may spur on a massive short/intermediate-term fund flow back into the dollar pushing it higher, as borrowers scramble to unwind their levered bets away from the US, and repay the principal in USD. at least that's my current take-away after reading some stuff here on ZH... paricularly an article speaking about how there is effectively a massive short-interest in USD to be unwound.
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Yawn... Let everyone know when they all get to zero...
Fixed it for you.
As for the dollar's huge run up over the last 9 or so months: Is the dollar up on "exit," or "strength?"
If there is no "strength," then it must be "exit."
Liberty is a demand. Tyranny is submission.
The dollar is the cleanest turd in the pile.....
The GBP is the currency to watch all others are controlled by the GBP, just check the forex...
The little blip recovery in the dollar today has created some nice opportunities -- if you believe the strong dollar trend will be ending. I am positioning more into PMs, some iinternational (mostly Asia and Aussie) bond funds, and even a US electric utility with a nice dividend -- in preparation for a stock market crash and/or downtrend in the US dollar. It is unlikely that the market can continue higher in the event of a rate hike -- but who knows in this centrally planned world.
So Risk On?
A dropping dollar is good for America. And it just won’t happen, it will have to get a lot worse and a 1:1 vs ghe euro is clearly in the books by next month.
now it seems shaking the monkey hedgies off their back, before their next move ...
Imagine how weak the greenback would be if the rest of the world wasn't in about the same boat? Much to be said for the global economy, eh?
Currencies, it seems to me, trade based on comparison with the other available currencies. Is there a stable one to be found? And, for a mind game, imagine if there was only one currency - how would you know when it was up or down?
It all depends on what the rest of the world is able to offer for our goods and services, vs. what we are able to offer for theirs. Right now, I can't offer much. I see a huge problem here, winding up with that big wind down we all hear about. Only by then it will be a big whine down.
Craig
The railroad tracks reversal pattern on the monthly chart is way no good
http://www.goldsqueeze.com/analysis/us-dollar-huge-monthly-downside-reve...
Naturally, gold is plunging now that the fed has indicated it will not be raising rates any time soon. Of course, the inevitable Greek default is also good for a rising euro. Cough.
lol. Just wait until the EM and Asia start unwinding their long $usd trades & hedges. What you see happening with the euro right now is European bond traders unwinding their FX long usd/eur hedges. (They are long euro on the bond side of the trade, when they buy euros to purchase European bonds, so they hedge)
It's eom and flows in GBP & EUR are usually positive. The 5hr usdx chart is really oversold. There's a retrace coming over the next 24 hours in the $usdx. We also have China manufacturing & non-manufacturing PMI's later.
if yellen is sellin' the usd melon that must mean that she found the helicopter ben custom keyboard. god help us all.
Ron insane just said the Atlanta fed just put out calculated prediction Q2 GDP will be 0.9%. Now we just had a 0.2% GDP for Q1 but that was stuffed to the gills up all supply channels with inventory so as to make a -2.6% GDP a 0.2 % GDP. Which a 0.9% hardly makes up for in growth to eat up that inventory with a 1.7% GDP still outstanding for the next quarter or more it will take to get through the overhang. That is if week don't just fall off a cliff because peeps are sick of old inventory. Which means sales which means deflation which means low revenues..... The math illiterate probably still want to keep stuffing channels to fix it!
".....The math illiterate....."
Indeed.
Dollar goes down, bitcoin goes up. Last price $236
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Well you might hate the USD but if you think owning EUR or JPY is a better idea your dreaming!
it's all the greenbacks- you know, the ones sipping koolaid when they could get right paid for chugging pop while make twice their salary, and moving eight times less than those in an unsubsidized household... well, it's true. Not only to wage-earners do more with their mind, office-pacing accounts for twice the distance of flipping the fries!
yawn my ass. hv to buy a ton of euro's. been w/ this bank thirty years but becuz of Dodd-Frank, i hv to fill out sixteen forms
and counting for my d&%m banksters and its still not done a month later. praying this is just a short squeeze or do buy this futures contract for JUNE? HELP!
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