Charting the Markets: 27 September
The rush to own dollars appears to be a symptom of people rushing to buy safety ahead of a realisation that rates will be higher for longer.
But, as IGTV’s Jeremy Naylor explains, the move into indices and equities represents a contrarian trade and as a result the rally my not last long. The short trade for EUR, GBP and JPY vs USD looks set to continue, certainly for the time being, with some interesting levels to watch across the FX space. This USD rally continues to hit gold which, also, has some key levels to watch for the short trade. The only real upside, away from the US dollar, is oil where supply remains under pressure.
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