Here we are again with one more 
DXY chart analysis. I think the US Dollar does not fail to surprise us week after week. Making new lows every week is giving a boost to the Equity markets. The 
SPX and 
QQQ are at ATH. In my articles on April 18 and June 16
Perfect trade setup:
GLD to 325; DXY to 95 for AMEX:GLD by RabishankarBiswal
DXY weakness and EM markets: 
NIFTY more upside? for NSE:NIFTY by RabishankarBiswal — TradingView
We have time and again said that in the near termDXY chart looks weak and could touch 95 by end of July. I think it might be achieved earlier. We have looked at the consequences of 95 handle on DXY on various asset classes like GLD, NIFTY and EMs. These asset classes are reaching ATH every single week. But we have seldom investigated the reason behind the weakness in $DXY. Looking through my macro charts I found an amazing chart which might explain most of this weakness.
The
USM2 is almost at 22 T $ surpassing its previous high on March 2022. M2 is basically the total amount of money in circulation in the economy on top of the nominal M1. Higher M2 indicates higher amount of liquidity which is then channelized into riskier assets like 
BTC, GLD, SPX, QQQ and EMS like $NIFTY. And with such high USM2 in circulation, it is very clear why DXY is making new lows each week. This can also explain why US Fed is hesitant to reduce rates. With M2 so high US Fed should not hurry.
Verdict:DXY to 95 by 31 July, Cycle low of 90 by year end. USM2 keeps increasing. US Fed stays put.
DXY chart analysis. I think the US Dollar does not fail to surprise us week after week. Making new lows every week is giving a boost to the Equity markets. The SPX and QQQ are at ATH. In my articles on April 18 and June 16Perfect trade setup:
GLD to 325; DXY to 95 for AMEX:GLD by RabishankarBiswalDXY weakness and EM markets: NIFTY more upside? for NSE:NIFTY by RabishankarBiswal — TradingViewWe have time and again said that in the near term
DXY chart looks weak and could touch 95 by end of July. I think it might be achieved earlier. We have looked at the consequences of 95 handle on DXY on various asset classes like GLD, NIFTY and EMs. These asset classes are reaching ATH every single week. But we have seldom investigated the reason behind the weakness in $DXY. Looking through my macro charts I found an amazing chart which might explain most of this weakness. The
USM2 is almost at 22 T $ surpassing its previous high on March 2022. M2 is basically the total amount of money in circulation in the economy on top of the nominal M1. Higher M2 indicates higher amount of liquidity which is then channelized into riskier assets like BTC, GLD, SPX, QQQ and EMS like $NIFTY. And with such high USM2 in circulation, it is very clear why DXY is making new lows each week. This can also explain why US Fed is hesitant to reduce rates. With M2 so high US Fed should not hurry. Verdict:
DXY to 95 by 31 July, Cycle low of 90 by year end. USM2 keeps increasing. US Fed stays put. 
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Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.