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What’s In YOUR Wallet?
After dallying about for the last two weeks, the US Dollar Index has resumed its downward trend.
Janet Yellen stated yesterday that the conditions for raising short-term interest rates are not there yet and that hiking them too soon (even modestly) is just as dangerous as raising rates too late (Remember 1937 when the US relapsed into severe recession: http://www.federalreservehistory.org/Events/DetailView/27. You also have to consider worldwide ramifications and that the United States is approaching an election year (I cannot remember the Fed raising rates going into a major election. I’m shooting off the cuff here; correct me if I’m misinformed).
The Euro is making gains, as concerns about Grexit: the exit of Greece from the Euro-zone has been factored into the value of the Euro Currency Unit. This is not just my opinion, and certainly not the opinion of the late-to-the-show band wagoners!
The commodity currency, a.k.a. the Australian Dollar, may be on the verge of breaking out to the upside at last.
For additional information and risk parameters please contact Walter Otstott @ 972-387-0080 or walter@dallascommodity.com
Regards,
Walt
Walter Otstott
Energies & Metals Markets
Dallas Commodity Company, Inc.
The Colonnade, Building III
15305 Dallas Parkway, Suite 930
Addison, Texas 75001
(972) 387-0080
(972) 387-0018, fax
(214) 537-9750, cell
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