The March Dollar Index is down 61 ticks at 75.475 this morning as I write. The enclosed chart shows that the dollar really hasn’t gone anywhere over the past four weeks accept trade in a 200 tick range despite all the talk on TV and in newsprint about its affect on commodity prices. The volatility in commodity prices has been on worries about what the dollar might do rather than what it has actually done. It is amazing how talk and chatter can move markets over periods of time. The three day rally last week just put the dollar back to its 40 day moving average which has held the dollar back over the last several months. Now prices are heading back to their recent contract lows. The longer term trend is still for a lower dollar. We will stand aside in the dollar for now.
David Hall
The information and opinions contained herein comes from sources believed to be reliable, but are not guaranteed as to accuracy or completeness. The risk of loss in trading futures and/or options can be substantial. Each investor must consider whether this is a suitable investment. When trading futures and/or options, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Past performance is not necessarily indicative of future results.
