News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
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US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
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Gold Market Wire

News, analysis and commentary for gold traders and investors

FX Watch

US Dollar Goes on a Tear

September 29, 2021 - (Gold Market Wire) - As we opined on Monday, the US Dollar was primed to move higher - and boy did we get it, in spades, today. Big moves against both the Euro and Sterling (GBP); and we are of the opinion that there is more where that came from.

Starting with the Euro:

approaching terminal velocity...

Three weeks of utter mayhem for the Euro. This time, we look like we are going to gun for the big number - 1.035, and see what transpires. We see no reason to cover the Dollar length. . This one has further to go, and is starting to have the hallmarks of a real, bone fide currency crisis in the making. Hold on to your hats. The Eurozone, in debt up to its eyeballs, political dysfunctional in extremis, with its core economy (Germany) now swinging hard left, and its 'functioning' economy (Poland, Hungary, i.e. 'Vise grad') slowly drifting away, is a complete and total mess.

Ditto Sterling, where the UK, is now truly starting to resemble a second world economy, complete with failing infrastructure, food insecurity and a panic petrol buying.

...free fall.

There's more where that came from, in our humble opinion.France wants to start and EU army. The UK wants the military to secure both petrol supplies and defend its home fishing waters from France (and, one would assume, Spain), while getting ready to take on the Chinese military thousands of miles away from home - using Australia as a base??? When you throw Canada (politically rudderless), and the mess that American politics has become - its all becoming a bad, joke. So where does the money flow? One supposes to the currency home of the largest western military force - the USA/Dollar. Where else, exactly, is it to go?

Panic is in the air now. We haven't seen the last of this move. Continuation of the trend looks highly likely. The Metals are holding on, just, but in the big picture, they are doing better than expected. We're not bullish the Metals just yet, but we remain impressed by the simple fact they have held as well as they have.

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