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The U.S. Dollar is on the cusp of ringing alarm bells.
USDKRW and USDCAD are moving above long-term resistance. USDJPY will determine KRW and CNY. The high for USDMYR this year is a touch above the 1997 high. The current rebound is about a 50 percent retrace. Indonesia rupiah (not pictured) looks similar. Not a day ago, India was talking about letting rupee slide with yuan. Half a day later, rumored to be selling dollars to defend rupee.
Whoa, I didn’t expect this. This pattern has been in place for eighteen months and only just failed, for the first time ever, today.
Remember my brief China fetish? Yeah, be nice to have held on. China is just sucking whale, and should continue to do so. The Communist Dictatorship isn’t able to fool folks any longer.
You probably have heard how insane Canadian house prices are even though their economy stinks. Ontario and B.C. are basically California-level:
