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Jim Wyckoff

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Greenback fading badly to end 2019

December 31, 2019 by Jim Wyckoff

A feature in a generally quiet, holiday marketplace the past few days has been many currencies rallying significantly against the U.S. dollar, including the Swiss franc, Euro currency, Japanese yen, Canadian dollar and Australian dollar. The U.S. dollar index hit a five-month low overnight and is poised to close at a technically bearish monthly low close today, which would suggest more downside price pressure for the greenback in early January, or longer. This is a bullish development for the raw commodity sector, as most raw commodities are priced in U.S. dollars on the world market.

Filed Under: Blog News, Jim's Morning Report, Uncategorized

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