Jen wrote about a forecast that projects in Q4 that the EUR/USD should hit 1.37, oil at $55 and gold should also fall.
I would expect that this will come to fruition for many reasons.
What has been happening to a degree is that no value has really been added to the US stock exchanges or Gold or Oil for the last few years because as stocks, oil and gold go up the USD has gone down. I’ve not made a calculation but I would suggest that the rise in the EURO virtually offsets the rise in oil. So is it really going up in price? Only in terms of the USD.
As we are very oversold on the Dollar, I would expect some correction in Q4 and therefor stocks, oil and gold will likely all follow down to a degree.
The Million Dollar question of course is where is the bottom on the USD?
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