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I’ve been barracking for the US dollar bull market for a year now and today we appear to be approaching a new inflection point in the rise:
Roughly speaking the US dollar has formed a bullish ascending triangle chart pattern and looks ready to test the upside. It’s no wonder, quite frankly, given the economic weakness and monetary easing that’s going on everywhere else with:
- European QE;
- UK ZIRP;
- Japanese recession and failed Abenomic;
- China’s glide slope, rate cuts and falling yuan
- dragging on emerging markets.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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