Dollar keeps getting stronger and stronger

Dollar keeps getting stronger and stronger

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A strong dollar is on a path to get even stronger

A strong dollar is on a path to get even stronger

The U.S. dollar continues to move up. The Dollar Spot Index (DXY) has climbed 3.2% since November 4 to 100.16 as of noon today, November 15. That puts the index, which tracks the U.S. dollar against a basket of currencies from significant trading partners, knocking on the door of resistance at 100. (The 52-week high for the index is 100.51.)

European Central Bank doesn’t give financial market assurance it wanted

Financial markets were hoping to hear something from the European Central Bank and its president Marie Draghi after today’s policy meeting about extending the bank’s current 80 billion euros ($88 billion) a month program of asset buying behind its current March 2017 expiration. Instead all financial markets heard was Draghi promise that the bank wouldn’t put an abrupt end to asset purchases in March

Today looks like a return to the “vulnerable” market of last week

For me the question today was whether the market would look like the “vulnerable” market of the first four days of last week–you know when U.S. stocks moved lower, the dollar continued to climb but so did the yen, and emerging market equities fell and it looked like we were moving back to a typical risk-off market–or whether Friday’s strong day for U.S. stocks broke the pattern.