The Dollar Is Nosediving

Tough to say what the catalyst was for this kneejerk lower aside from severe weakness in Philly Fed (which is admittedly a 2nd tier economic data series at best), but the dollar is tumbling...

Obviously, early strength in cable from a hawkish BoE helped but that was a few hours ago...

However, while the move is notable, in the context of last week's squeeze by The ECB, it's not much yet...


NoWayJose Thu, 06/21/2018 - 09:24 Permalink

There have been a LOT of mis-leading click-bait headlines coming from the Tylers lately.

I am filtering out most of them now, and instead of reading everything on ZH like I used to, I am skipping at least two-thirds of the articles because of the worthless headlines and increased contamination by popup ads!  ZH has gotten so bad that I - GASP! - have even started looking at market statistics on CNBC’s web site, where the dollar is not crashing!

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HRClinton Thu, 06/21/2018 - 10:11 Permalink

New Tylers, you keep using those words* for clickbait, not for journalistic integrity.

We KNOW the New Mgmt is not the Original Tyler. Either that, or TD changed/caved.

* Nosedive, crashing, surging... and other hyperbole.

Yellow journalism, and why I can no longer recommend ZH to friends, lest they laugh at me.

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Son of Captain Nemo rejected Thu, 06/21/2018 - 10:20 Permalink

"When gold does take off, and their rigging can't control it,,, you ain't gonna like it."...


It's been happening in earnest since the BOE made that biggest of epoch sales in the PM they had in but "discarded" in 1999.  Followed by Larry Summers epic "snip snip" of we don't need no stinkin Glass Steagall around the same year!...

The only thing you and I see like the rest of the non-existent volume in the market(s) everywhere else is the pretty wrapping paper that covers each troy ounce of PHYZ. And guys like this one (…) that get out of jail "free" to keep doin it again... hitting the "RETURN" key to sell order a 1 billion paper shorts in 10 seconds on any given day as instructed!...

By the way... If my calculations are correct as I know that they are. 1 troy ounce of gold is somewhere legitimately in the neighborhood of $650,000 an ounce that is directly proportional to the level of printed $USD coming out of the U.S. Treasury as we speak that is well beyond $200 trillion and counting!

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Son of Captain Nemo Thu, 06/21/2018 - 09:02 Permalink

Philly Fed aside...

Enjoy the "paper pushin" while it lasts!.... But try to stock up on the "two-ply" $dollar if the U.S. Treasury still can afford to make it... Cause that one-ply $dollar leaves shit all over your finger tips when you are wiping that "back end"!!!!

mad mad world Thu, 06/21/2018 - 09:07 Permalink

So what? Buy more gold or crypto? The dollar goes up then goes down just like everything else. We need to worry about our internal enemies like the Democrat party instead of the dollar for now. They'll kill us all before the dollar will.

Chief Joesph Thu, 06/21/2018 - 09:14 Permalink

The dollar is only nose-diving on the chart.  The charts are meaningless.  The exchange this morning shows it strengthening against the Chinese yuan, where it really counts in trade.  But, the U.S, economy overall is very weak, Consumer Goods Production Fell Sharply, Manufacturing Took a Heavy Hit, and Non-Demand-Driven Inflation, Combined with Fed Tightenings, Already Are and impairing Real Growth in Consumer and Systemic Liquidity.

Son of Captain Nemo Thu, 06/21/2018 - 09:16 Permalink

Such nervous nellie(s) this morning... What happened?...

Is it the reality of the lack of "volume" problems that shows up the last 30 minutes of every trading day these last 10 years that is somehow only now spooking the shit out of you along with the algo range conformity and "circuit breakers" that arbitrarily inhibit trading at the drop of a hat?... Or that karma is the ugliest of bitches riding that VIX "broom" given the heroin needle that's been permanently embedded in your arms for this long that eventually isn't going to pass the nectar given all that scar tissue?...


Al Huxley Thu, 06/21/2018 - 09:34 Permalink

The dollar panic must be what's driving gold through the roof all of a sudden!!! And SILVER even more so!  Stackers rejoice, the day of the dollar collapse is nigh!!!!

Vin Thu, 06/21/2018 - 10:31 Permalink

What bullshit. 

First off, the dollar is up not down.

Second, all that means is our fake currency looks prettier than their fake currencies.

Third, STFU