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Post Jackson Hole Jingles ripples through global markets . The DXY & WTI set Inversely Correlated on a Rollercoaster..
(Repost From #Mercer-Wood.Solutions Social Handles 02/09/2022).
The DXY, remains firmer!
The majors loose tail winds Yet remain defiant.
Commodity currencies obey the rules of inverse correlation dipping while USD extends gains
WTI rose on a brief rollercoaster ride as mentioned last week, before breaching the psychological support levels @ $87bbl testing $86bbl perhaps $85.90
On Demand concerns, US Led G7 to put a cap on Russian Oil. Despite favorable inventory reports allowing Crude Oil WTI to rally to $94 bbl. then shedding nearly 3%
Meanwhile Exotic currencies also slid.
Friday profit taking coupled with baker huge rig count may leave the USD as King over the weekend with a (DXY) US Dollar Index, was showing readings in the ballpark of 109+ This indicator which assist in determining the might of the USD, reveals that the USD is indeed bolstering.
It could be inferred that the rollercoaster ride for commodities namely Oil, Gold, Wheat & Grains are going to be exhilarating for some prepared market participants as USD take the stirring wheel behind the driver seat.
These are exciting times for friendly solutions, Investing in Green energy & diversification assets into safe havens..
As Gold, the (JPY) Japanese Yen and the usual havens squeezed, looking into ESG, Farming Produce, Solar & alternative solutions beckons.
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