Dollar This is the currency market’s reaction to Trump’s higher chances of winning the presidential race, fuelled by his promises of increased trade tariffs. Even the anticipation of these measures is driving up the US currency. The Dollar Index has rallied almost 3.7% from the local lows of three weeks ago. While impressive, this is only a recovery from 13-month lows to the July heights. Technically, the Dollar Index has climbed to its 200-day moving average.
This is the most dangerous pattern for bears as it quickly recharges the bulls without accumulating overbought conditions. The stock market is rising again on the back of record earnings from companies listed on the stock exchange. They are easily beating analysts’ forecasts, which were very pessimistic before the reporting season started. Gold Gold returned to all-time highs at the end of the week, gaining 2% in the last five days.