Cultivating resilience:
- Pray (Jude 20)
- Healthy self-talk (Psalm 23)
- Right associations (2 Corinthians 2:16)
- Maintain a positive outlook in the face of adversity (Job 13:15).
🙌🙌🙌
@mdtrade Looming UK recession could be a potential fundamental DXY direction driver as contagion could spread to other economies. This'll likely dampen enthusiasm for risk assets and increase DXY safe-haven demand. Look out for a weekly close above 104.40 (0.618 retracement).👌
@mdtrade Agreed. As long as inflation remains controlled, there's a healthy prospect for economic growth that'll be in everyone's best interests. Stock markets need to stay up to preserve wealth. I don't see the Fed jeopardising the gains made in GDP by raising rates further.
@mdtrade Individually these bits of positive news don't amount to much but when one connects the dots, they paint a picture. Looks like a risk-on cycle is in its initial stages and we should see reduced DXY safe-haven demand, barring the escalation of middle Eastern hostilities. 👌
@mdtrade The last week has seen string of positive data to encourage optimism about the prospects for global economic growth in 2024 headlined by solid GDP numbers, declining unemployment and inflation from the US, UK and the Eurozone. Australia and New Zealand aren't left out either.
@mdtrade The main fundamental driver at this point appears to be a resilient US economy (Fed soft landing) leading to renewed confidence in equity investment that should see stocks and crypto rally. Resolution/containment of the middle east crisis would accelerate DXY's tumble.
@mdtrade 104.20 is the line in the sand (0.618) but we might not see it as the follow through after today's Michigan sentiment has been minimal suggesting waning bullish bias. 👌