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Thread: Dollar is doing something it hasnt done in three decades

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    Veteran Member bajisima's Avatar
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    Dollar is doing something it hasnt done in three decades

    CNBC cant stop talking about it today.

    Todd Gordon has seen something in the charts that will have dollar bulls rejoicing. The TradingAnalysis.com founder says that the greenback has broken out of a downtrend that has been in place since the early '80s. On a chart of the dollar index going back to 1983, Gordon points out every big rally and fall in the currency and then connects the peaks of each rally. Each peak over time has been lower, meaning the dollar has made lower highs every rally since 1983, creating the downtrend that Gordon sees.

    But the recent bounce in the dollar shows that it has broken the downtrend line and is actually finding a key level of technical support around the 90.00 level.
    "It looks like we're beginning to find a support shelf here in the overall dollar, and it looks like we could resume higher," he said.

    https://www.cnbc.com/2018/05/01/the-...3-decades.html
    Thanks from Wonderer and Puzzling Evidence

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    Radical Centrist BigLeRoy's Avatar
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    If he is right, this renewed strength in the dollar will only serve to make the trade deficit much, MUCH worse. Trump's SIGNATURE campaign promise to the American people was that he was going to 'fix' the trade deficit.

    And the trade deficit is ALREADY at the highest levels it has been since 2008, before Obama became President.

    Oops.

    As Rick Perry might say.
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    Veteran Member bajisima's Avatar
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    Quote Originally Posted by BigLeRoy View Post
    If he is right, this renewed strength in the dollar will only serve to make the trade deficit much, MUCH worse. Trump's SIGNATURE campaign promise to the American people was that he was going to 'fix' the trade deficit.

    And the trade deficit is ALREADY at the highest levels it has been since 2008, before Obama became President.

    Oops.

    As Rick Perry might say.
    Yea I had always thought it might not be a good thing. But CNBC is touting this like the invention of the wheel. Doesnt it also make fewer people come here and buy things?

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    New Member BigBob's Avatar
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    It does make our products less desirable over seas.

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    Quote Originally Posted by BigLeRoy View Post
    If he is right, this renewed strength in the dollar will only serve to make the trade deficit much, MUCH worse. Trump's SIGNATURE campaign promise to the American people was that he was going to 'fix' the trade deficit.

    And the trade deficit is ALREADY at the highest levels it has been since 2008, before Obama became President.

    Oops.

    As Rick Perry might say.
    Why do you think a trade deficit is a bad thing?
    Thanks from publius3

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    RNG
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    Money always strengthens when a country's bond rates and interest rates increase. The traders know what's in store for you.
    Thanks from namvet69

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    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Libertine View Post
    Why do you think a trade deficit is a bad thing?
    Mr. Trump certainly does. It was his SIGNATURE ISSUE!!!
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    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by Libertine View Post
    Why do you think a trade deficit is a bad thing?
    Furthermore, it IS a bad thing, because it is a reflection of the fact that America is a VERY low-saving country. As is our budget deficit. We call them the twin deficits for a REASON. They are LINKED to each other, macroeconomically.

    As Mr. Trump's budget deficits explode, so will the trade deficit. He will then blame THAT on foreigners, on other nations, when the fault will be his OWN!!
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    Quote Originally Posted by BigLeRoy View Post
    Furthermore, it IS a bad thing, because it is a reflection of the fact that America is a VERY low-saving country. As is our budget deficit. We call them the twin deficits for a REASON. They are LINKED to each other, macroeconomically.

    As Mr. Trump's budget deficits explode, so will the trade deficit. He will then blame THAT on foreigners, on other nations, when the fault will be his OWN!!
    We never saw this level of export activity in the Obamaconomy.

    Record exports cut US trade deficit to $49 billion
    [Associated Press]
    PAUL WISEMAN
    ,Associated Press•May 3, 2018

    Exports rose in March to a record $208.5 billion
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    Quote Originally Posted by Libertine View Post
    Why do you think a trade deficit is a bad thing?
    Ask Trump. He says we were the laughing stock of the world with what we put up with. China laughed at us.

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