Profit taking on the USD all across the board and consequently the Dow soars 168 points to close positively at 18127.65. FOMC meeting this week is what really set this all off. see here on Bloomberg http://www.bloomberg.com/news/articles/2015-03-20/yellen-is-watching-these-four-indicators-for-signals-on-when-to-raise-rates .Interest rate shy corporate America takes a respite from the Dollar's relentless march largely due to fears that Dollar strength will cut back corporate earnings on export driven companies. However, dealing with Dollar strength is largely a discussion upon competitiveness and recent economic history post war tends to favor the argument that weaker currencies help to export, like Japan in the 70's and China today. The final quarter for 2014 has cost an estimated 19 billion dollars in lost revenue for American corporations due to the rise in the USD. Volatility has been the keyword for this week as the EUR gains 1.3% on the USD. All the Dollar gains for the last 10 years have been eroded. What that does for business planning their currency spot purchases is anyone's guess. Crude oil having shied the 40 mark is not out of the slope yet so far as logistics may yet prove and gold finds little support.
USDX
97.806 -1.260 -1.62% Support 96.677 Resistance 100.207
EUR
1.081350 +0.012725 +1.19%
Support 1.05690 Resistance 1.10210
Crude Oil
46.49 +0.96 +2.10%
Support 43.66 Resistance 48.88
Gold
1182.600 +9.830 +0.84%
Support 1,160.5 Resistance 1,199.5
Pieter Bergli - DeLoren Trust Holdings
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