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Watching the Dollar Ahead of Next Week's Fed Meeting


All eyes on the US Dollar (DXY), which reversed sharply to the downside last Thursday in reaction to "the Draghi Disappointment" after the ECB Meeting.

Even though ECB Head Draghi tried to take back some of his comments on Friday, let's notice that DXY only has recovered about one-third of the decline-- a minor recovery bounce within a newly-dominant, near-term downtrend perhaps?

Even as a potential FOMC rate hike approaches next week, DXY appears to be "disinterested," or already has anticipated 25 bps accompanied by all sorts of apologies and excuses.

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