Our technical work has been suggesting the likelihood of a US dollar rally for some weeks now. Today we are seeing that positive dollar trend continue with the now familiar accompanying sell-off in risk assets.
Today Mike Mish Shedlock gives a good summary of the likely macro reasons spurring the U dollar rally here. See Global Accidents Support US Dollar Rally.
Note that an American market commentator, Mike lists the “Canadian property bubble bursting” as one of his US dollar positives. My sense here is that most Canadians do not understand the potential risk we are facing with our over-indebted population and over-bought realty market.
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