USDX Strength today
The USDX is significantly higher overnight and is helping bring lower stock index and energy futures for today. At 78.38 (high at 6:55 AM Central) the USDX is a full half point higher than yesterday’s high. This has helped push the Crude Light contract below 78, gold below 1140 an ounce and Soybeans below 960’0 per bushel.
US Bonds and Treasury Notes are rising with the dollar while major Currencies are falling minus the Yen. Sugar continues to rise after yesterday’s push through 28.95. A new contract high at 29.45 has been posted and strength continues to show in the charts. Orange Juice is up, but weak. The remainder of the Soft market is down against the dollar’s strength. If the trend continues, we could see significant pullbacks continue in major commodity markets.
