DOLLAR AND ADP THROW COLD WATER ON BULLISH NARRATIVE, U.A.E. SIDES WITH RUSSIA AGAINST THE U.S.
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Dollar And ADP
Please click here for a chart of Bullish Dollar ETF (UUP).
Note the following:
- In prior capsules, we shared with you several reasons that were coming together to cause the big rally of the last two days.
- With the benefit of hindsight, it is becoming clear that the biggest reason for the rally in the stock market was the pull back in the dollar.
- The trendline shown on the chart shows a relentless rise in the dollar.
- The chart shows that over the last several days, the dollar pulled back.
October 5, 2022