EEM markets turning bullish, pointing lower for DXY
|This week, the US dollar has weakened following indications from the Federal Reserve that they might ease their aggressive monetary policy, suggesting a possible peak in interest rates. Consequently, the dollar experienced a significant downturn, while the stock market saw a considerable rise, entering a robust bull market phase. More importantly we are also seeing move up on EEM meaning that moeny can be flowing out of the US into other counitres on sepcualtion of lower rates in US in 2024.
You can clearly see a nice correlation between EEM (inverted) and DXY. Whats the most interesting is at EEM has room for more gains after completed correction so DXY can be headed below 100. I talked about EEM months back and highlighted the bullish pattern here.
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