As we kick off the first trading week of 2024, let’s take a closer look at the U.S. dollar and its potential impact on the broader market.
I often discuss the U.S. dollar to gain insights into how it might influence equities and fixed income.
Examining the daily chart of the U.S. dollar, it’s clear that its inverse correlation with equities is currently following a pattern similar to mid-late 2023.
Why am I focused on the dollar? Well, there’s a chance that stronger economic data might be released early in 2024. If that happens, bond yields could rise, and equities might experience a pullback.
I wouldn’t be surprised if the U.S. dollar signals these changes ahead of time.
The fact that the U.S. dollar is currently oversold suggests a couple of things…
In today’s quick 2-minute video, I’ll explain what it means for the broader market when the U.S. dollar is oversold and discuss the signals it’s sending us right now.
I release these weekly tips every Thursday for free, so stay tuned and stay subscribed here.
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