U.S. Dollar's 'Golden Cross' Signals Trouble for Global Markets
TL;DR Summary
The U.S. dollar is on track to complete its first "golden cross" since July 2021, indicating a potential upward trend and potential trouble for stocks. A golden cross occurs when the 50-day moving average surpasses the 200-day moving average, often signaling momentum in a particular direction. The dollar's recent gains, coupled with rising Treasury yields, could pose challenges for the stock market. Analysts suggest that the Federal Reserve's decision to maintain interest rates above 5% through 2024 may further support the dollar's upward trajectory.
- U.S. dollar heads for first 'golden cross' since July 2021, signaling more trouble for stocks ahead MarketWatch
- As Fed Battles Inflation, the Dollar Keeps Its Swagger The New York Times
- US Dollar books weekly gain with US government shutdown and continued UAW strikes as tail risk FXStreet
- The U.S. dollar just formed a 'golden cross,' which could cause trouble for the rest of the globe CNBC
- What higher-for-longer Fed policy will mean for the markets and economy CNBC
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