…the US Dollar index, hourlies:
“Reports of my death have been…” etc etc.
We noted in the Weekly a couple of editions ago that the automatic assumption of Dollar Death, or even more reasonable dollar weakness, from current levels is something for the foolish. Check out the weekly candle chart for more and on the stubborn thing the Greenback’s shown at the 94 number these last couple of years.
And calling the dollar lower has become a crowded trade. Natch.
The thing about the dollar is that it’s way more difficult to call than the average hard money Austrian dumbass imagines. It could indeed drop further, but there’s nothing in the lawbooks that says it can’t rally from here either. The USD is best left moot when you’re considering a trade in a mining stock, because making it a central point of your buy thesis is just asking for trouble.