Dollar in the Doldrums — But It’s a Crowded Trade
This article is so good
it's for premium members only.
Does that sound like you?
PREMIUM
ONLY $30/MONTH
BILLED ANNUALLY OR $35 MONTHLY
All BASIC features, plus:
- Premium Articles: Dive into subscriber-only content, market analysis, and insights that keep you ahead of the game.
- Access to our Private X Account, The Market Ear analysis, and Newsquawk
- Ad-Free Experience: Enjoy an uninterrupted browsing experience.
PROFESSIONAL
ONLY $125/MONTH
BILLED ANNUALLY OR $150 MONTHLY
All PREMIUM features, plus:
- Research Catalog: Access to our constantly updated research database, via a private Dropbox account (including hedge fund letters, research reports and analyses from all the top Wall Street banks)
Zoom out
The dollar is stuck in the doldrums, with bearish narratives piling up fast. But with positioning stretched and sentiment one-sided, it's worth asking how much weakness is already priced in.
EURUSD longer term chart right at the big negative trend line. The 200 weekly moving average is sloping negatively still...and the the FX pair has done nothing since 2015. FX is a relative game, but getting excited about the euro here looks like a late short term trade.