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USDX up, why?
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Thread: USDX up, why?

  1. #1
    Join Date
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    Default USDX up, why?

    It seems the USDX has been trending up for about a week. It looks like a "flight to safety" is taking place. Possibly profit taking going on in gold and equites and the profits are being held as dollars.

    If this is whats happening, gold and silver could go even lower, perhaps some good buying opportunities ahead.

  2. #2
    Join Date
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    South Bend Indiana, home of the Fightin Irish of Notre Dame.
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    Default Dollar rallys lately

    Seems like all of the dollar rallies the last few months have lasted a week. I think this one is about shot. I am surprised its still going on after Obamas speech about spending more money that we dont have.

  3. #3
    Join Date
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    Default

    Seems like all of the dollar rallies the last few months have lasted a week.
    Yeah they do seem to break down quickly.

  4. #4
    Join Date
    Aug 2008
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    359

    Default

    I was just wondering about that too, like WTF, being it debt over twelve TRILLION dollar seems like a good thing????

  5. #5
    main1event Guest

    Default

    The USDX is traded against other fiat currencies that are no better. The dollar sucks but every country is printing money like crazy.

  6. #6
    Join Date
    May 2009
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    421

    Default

    Quote Originally Posted by aequitas View Post
    USDX up, why?
    Well, Obama announced that the US would "spend" its way out of the recession with a new stimulus plan today. That should have been dollar-negative news.

    But guess what else happened today?

    The US sold $29B in 0% 1-month paper
    http://www.zerohedge.com/article/29-...ll-prices-0000

    And the US sold $40B in 1.22% 3-year paper
    http://www.zerohedge.com/article/40-...-allotted-high

    You see, the dollar had to look its best for the Treasury auctions today. So the Plunge Protection Team dressed the dollar in a rent-a-tux for the day.

    Like Chris Powell said, "There are no markets anymore, just interventions".

    And, Greece got downgraded by Fitch--that makes people nervous that sovereigns cannot pay their debt, which would be deflationary.
    But this boost in the dollar cannot be explained by Greece alone.
    Last edited by ryshay; 8th December 2009 at 14:45.

  7. #7
    Join Date
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    395

    Default

    Like Chris Powell said, "There are no markets anymore, just interventions".
    Good point, do fundamentals have any effect in the short term with so much intervention by government and banking institutions.

  8. #8
    main1event Guest

    Default

    Quote Originally Posted by Quincy View Post
    How true. So how come you are constantly telling us the dollar will collapse? In the very long run yes, of course, it is quite likely to, but everyone else has major economic and/or social/cultural/political/systemic problems so the dollar may very well surprise in the coming months and years.
    There are different types of collapses. The dollar could simply collapse against real money (gold and silver) without falling against other currencies. Imagine the dollar trading where it is but gold going parabolic. That is a collapse against the biggest of all currencies. Its just not part of the USDX

    Notice how people make fun of gold and silver, that inflation adjusted since 1980 we have not reached the peak for gold. However, the Dow to Gold ratio has now shrunk to 9. The Dow is collapsing in terms of real money. Real Estate may not fall much further in terms of dollars but it is falling in terms of gold.
    Last edited by main1event; 8th December 2009 at 16:28.

  9. #9
    digger Guest

    Default

    Quote Originally Posted by Quincy View Post
    How true. So how come you are constantly telling us the dollar will collapse? In the very long run yes, of course, it is quite likely to, but everyone else has major economic and/or social/cultural/political/systemic problems so the dollar may very well surprise in the coming months and years.
    Duneyman returns again

  10. #10
    akak Guest

    Default

    Quote Originally Posted by Quincy View Post
    The truth is that the rest of the world has major problems too !!!

    The truth is that SOMEBODY cannot figure out when they are not welcome!

    Begone, Duneyman! I banish you to the desert, where you may rule over the sand and the scorpions!
    So let it be written, so let it be done!

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