The Chart is clear on DXY
The evident Bear Flag on on the DXY monthly chart points to 1 thing, another 11 point drop on the dollar over the next 12 months. This should have several positive and negative consequences. On the positive side the commodity complex as a whole should do well, particularly precious metals. The grains are more complicated, while the drop of the dollar is generally bullish the harvest(s) in Brazil & Russia are inputs that can't be ignored.
On the Negative side, the reason(s) for the drop are key. A Japanese Yen crisis seems to be brewing. A surge of treasury notes from the Bank of Japan to support the yen should bear steepen the yield curve, un-inverting the yield curve, dropping the dollar value in relation to the yen, and ultimately, pushing us into the recession that didn't arrive last year.
Positive or Negative, both outcomes result in higher precious metal prices.
On the Negative side, the reason(s) for the drop are key. A Japanese Yen crisis seems to be brewing. A surge of treasury notes from the Bank of Japan to support the yen should bear steepen the yield curve, un-inverting the yield curve, dropping the dollar value in relation to the yen, and ultimately, pushing us into the recession that didn't arrive last year.
Positive or Negative, both outcomes result in higher precious metal prices.
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