US dollar is oversold, the majors and gold are overbought! | MarketTalk: What’s up today? | Swissquote

Show notes

There was no major news on the wire to trigger the minor selloff in global equities, so it was nothing else than a correction after a long rally following an ugly meltdown.
The US dollar index took another dive, however, and hit the lowest levels since the beginning of January. The EURUSD spiked past the 1.11 level, Cable jumped past the 1.30 psychological mark. Even a dovish statement from the Riksbank and soft inflation numbers from Canada couldn’t prevent the US dollar from extending gains against the Swedish krona and the Canadian dollar. As such the Us dollar is oversold. Gold is nearly overbought at ATH levels and the levels call for correction!
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