Dollar And Markets Positively Correlate After Debt Deal

The stock market positively correlated with the dollar during the afternoon session after news that a “bi-partisan” deal was likely to be agreed on in Congress and by the President. Gold and silver fell sharply as financials continued to inch higher.

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About Aaron Basile
Market Technician, Equity/Commodity Trader, Austrian Economist, Contrarian Investor

One Response to Dollar And Markets Positively Correlate After Debt Deal

  1. It was a strange forex market in that regard. Strong “riskon” throughout most of the day (particularly end of day) – *except* the USD was strong as well. I took that to be a sign some “default bettors” closed positions.

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