Despite the Martin Luther King Jr. holiday, US futures markets were active.
When traders resume on Tuesday, some stock purchases should happen right away.
The fact that the fundamentals of the economy are on the verge of collapse, Europe had a great day, and market mood continues to perceive the glass as half-full.
Profiting from the expectation that the US currency will continue to decline, gold has been rising.
The alternative reserve uncertainty hedge against the US dollar continues to be the euro.
Given the dire state of the US economy, which is expected to continue as we approach 2023, As real wages continue to collapse for consumers, highly leveraged asset and real estate markets are coming apart.
Compared to the sputtering US dollar, the Euro and the Australian dollar have made enormous gains. Much of this is predicated on the mythical expectation that the Federal Reserve will drastically delay, pause, or even reverse its rate rises.
It seems more plausible that the Fed will keep raising rates by 50 basis points in order to complete the process as fast as possible while guaranteeing that inflation is stopped in its tracks.
As a result, there may be a serious oversold scenario regarding the dollar brewing. The wider picture is the stark truth of the US economy’s collapse, which is accompanied by enormous fiscal, trade, and current account losses. Both services and manufacturing are currently most likely in decline.
