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The charts that matter: US dollar continues its bull run
The US dollar’s bull run continued this week. Here’s how it affected the charts that matter most to the global economy.
In this week’s MoneyWeek magazine, we’re concentrating on inflation. Merryn talks to the Bank of England’s outgoing chief economist, Andy Haldane, who explains why price rises might prove rather more stubborn than many people think. We’ve also got a feature on how to buy into emerging markets – notoriously difficult – by using UK stocks as a proxy. If you’re not already a subscriber, sign up now.
This week’s “Too Embarrassed To Ask” looks at “zombie companies” - a term you may well have heard in this low-interest-rate environment. You can watch that here.
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Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
We’ve another big hitter on the MoneyWeek Podcast this week. Merryn talks to Jim Mellon, one of our favourite investment gurus. Jim explains what he’s buying – a lot of UK stocks – and why, with plenty of tips for you to investigate. They also talk about Big Tech (and why he’s not buying that), Big Oil (and why he is buying that), plus why Jim believes that the future of meat and dairy production lies not on the farm, but in the lab. Find out everything he has to say here.
The US dollar index (DXY – a measure of the strength of the dollar against a basket of the currencies of its major trading partners) perked back up in the latest leg of its bull run. That’s not good for any other assets, says Dominic.
(Image credit: US dollar index chart)
(DXY: three months)
Dollar strength was reflected in the Chinese yuan (or renminbi) – when the red line is rising, the dollar is strengthening while the yuan is weakening.
(Image credit: USD/CNY currency chart)
(Chinese yuan to the US dollar: since 25 Jun 2019)
The yield on the ten-year US government bond continued to drift slowly down.
(Image credit: US Treasury bond yield chart)
(Ten-year US Treasury yield: three months)
The yield on the Japanese ten-year bond turned sharply down.
(Image credit: Japanese government bond yield chart)
(Ten-year Japanese government bond yield: three months)
And the yield on the ten-year German Bund slipped, too.
(Image credit: German Bund yield chart)
(Ten-year Bund yield: three months)
Copper continued to slip, reflecting broader commodity-price weakness (oil excepted).
(Image credit: Copper price chart)
(Copper: nine months)
The closely-related Aussie dollar followed copper down.
(Image credit: AUD/USD currency chart)
(Aussie dollar vs US dollar exchange rate: three months)
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