FYI: The US Dollar index is now up 7.4% since its 2018 closing low hit on February 15th. This morning we just wanted to provide a heads up that the Dollar is breaking above another key resistance level at 95. The index had couldn’t break through 95 last October/November, and it failed once again at 95 at the end of May. The break above resistance at 95 this morning clears out additional supply and provides room to run towards 97 in the near term.
Remember, dollar strength benefits companies that generate most or all of their revenues domestically, while it hurts large-cap companies that generate large portions of their sales outside of the US. This is a key reason why the small-cap space has been outperforming over the last few months — small-caps are much more “domestic” in nature versus large-cap, global behemoths.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/us-dollar-breaking-above-another-key-resistance-level/
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