The US Dollar index had its third biggest one-day decline today since daily pricing begins back in 1970. After the Fed announced that they will be purchasing US Treasuries and other assets, the Dollar fell sharply and ended the day down 2.69%. As shown in the one-year chart below, the US Dollar index broke below its 50-day moving average today after breaking below its short-term uptrend a few days ago. The Dollar is still trading above its longer-term uptrend, but the technical damage done in recent days is not a good sign.
Below we highlight all one-day declines of 2% or more for the US Dollar index, along with the percent change on the following day and over the following week. As shown, the average return over the next day and week has been -0.18% following these big down days in the past.
i dont get.
us dollar index on ice - close price 17mar - 87.33 - close price 18mar - 84.63 = -2.7 = -3.09% but not -2.69%. am i wrong?
Posted by: egoist | March 18, 2009 at 09:16 PM
It's called breaking the Yuan,sooner or later they will have to float it...you will also see the Chinese buying made in the USA weapons
Posted by: dj | March 19, 2009 at 09:24 AM
you willalso see 1000s of chinese moving into our mansions and white people making there beds and wiping there butts,laugh,you will seee.......
Posted by: jim m | March 19, 2009 at 08:14 PM