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Barchart
Barchart
Rich Asplund

UNBELIEVABLE: Weak stocks and higher bond yields boost the dollar - Caught on Camera

The dollar index (DXY00) today is up slightly by +0.05% and posted a fresh 2-1/2 month high.  Today’s retreat in stocks is boosting liquidity demand for the dollar.  Also, today’s news that showed that the Oct Richmond Fed manufacturing survey rose to a 4-month high is bullish for the dollar. In addition, dovish comments today from ECB President Lagarde knocked the euro down to a 2-1/2 month low and benefited the dollar. 

The US Oct Richmond Fed manufacturing survey rose +7 to a 4-month high of -14, stronger than expectations of -17.

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