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Gold Surges With DXY Positive For The Day

No, you are not reading that chart wrong. Gold just surged to near two month highs, hitting $1130/oz, or $12 higher, even as the dollar is green for the day.

CLSA’s Chris Wood "In Five Years The US Dollar Paper Standard Will Collapse"

Chris Wood, who publishes the famous Fear and Greed newsletter, which Zero Hedge has republished on many occasions in the past (and whose latest edition can be found here), has some very scary things to say about the dollar in his interview by the CNBC lunch brigade. While Wood is still optimistic on Asia, and specifically China, due to lack of deflation in the region (for now), and expects an appreciation of the yuan soon, he is about as pessimistic on the dollar and "developed" economies as they come.

OilPrice.com Weekly Oil Market Update: 02/22/2010 – 02/26/2010

Submitted by Darrell Delamaide of OilPrice.com Crude Oil Hits Ceiling in Week as Hedge Funds Attack Euro Crude oil broke through the $80 a barrel ceiling repeatedly during the week but kept falling back as hedge funds placed big bets on the Euro’s decline. The fiscal drama in Greece held global markets hostage much of the week as worries about the impact of the Greek crisis on the euro outweighed comments from Federal Reserve chairman Ben Bernanke about continued low interest rates in the U.S., pushing the euro down against the dollar and damping crude prices. The euro recovered some ground on Friday amid new reports of European aid for Greece after falling to a nine-month low of $1.3440 on Thursday.

Dollar Index Rides the Trendlines Higher Feb 25

In an interesting development, the US Dollar Index (shown here in the @DX futures contract) has been riding a clearly defined trend channel higher, with a few bumps along the road. Let’s take a quick look at the current structure and note the most important price levels to watch going forward - in the event of any sudden price breaks

Key Structure and Level to watch on EURUSD Feb 24

A few readers have asked me to post on the current state of the EURUSD FOREX pair, and indeed there’s something interesting going on here and it’s definitely worth a look. Let’s see a long-term structure chart along with the key level to watch in the pair as we form positive divergences at the 61.8% Fibonacci Level - a very important inflection point for sure. (Click for full-size image) Taking the chart step-by-step, I’m showing the EUR-USD pair (this is the inverse of the US Dollar Index, which I highlight more often than pure FOREX pairs) from the March 2009 “bottom,’ which coincided with the stock market low

GSE Reform Overtures Whack Dollar, Market Spikes As Race To Currency Bottom Enters Second Lap

The almighty dollar just reminded everyone that it is in the hands of the Geithner/Bernanke puppetmasters. Overtures to reform GSEs announced earlier helped everyone forget that Greek rioting does not fill a budget deficit and instead that we have a hole worth several trillion in the mortgage sector, courtesy of 25-50% artificially higher home prices, that is currently unaccounted for. So as the dollar plunged, the JPYEUR currency pair formerly known as the market, surged.

Art Cashin Morning Thoughts

Via UBS Financial Services Confidence Crumbles And So Do Markets – The stock market began trading Tuesday in a slightly nervous fashion.

Morning Thoughts From Art Cashin

Via UBS Financial Services Dollar Dominance Of Markets Continues But Dismays – The surprise Fed boost in the Discount Rate late Thursday had sent the Euro reeling and the Dollar (DXY) soaring. That, in turn, sent commodities and stock futures into a tailspin. That relationship continued into the late hours of Thursday night and early Friday.

A Quick Look at the Daily Euro Chart Feb 17

With the US Dollar Index completing its daily Bull Flag, the Euro completed an opposite bear flag.  Both currency indexes are at key inflection points, so let’s take a quick look at the key level to watch now in the Euro Index. Euro Index ($XEU) Daily: We see the Euro Index making a “measured move” bear flag pattern (near-perfect example for reference) into the 136 index level, as a positive momentum divergence in the 3/10 Oscillator forms

Indicators the Disciplined Investors is Watching Feb 16

Wednesday brings us another quick update of the “ Indicators the Disciplined Investor is Watching ” from Andrew Horowitz. The February 16th update is entitled, “ Bullish Signals for Metals ” and includes a quick overview of key index charts to watch.