MacroVoices #387 Jeff Snider: On Deflation and Soft Landing
Macro Voices
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The US Dollar Index Is on the Edge of Retesting a Prior Support Level as Resistance
The Fitchdown of the US credit rating caused a spike in the VIX and also a correlating decline in broad markets. The next big tell is whether the dollar can rally above 103 spot 75, which would signal a trend reversal to the upside. Eric Zohn: There's a confluence of events right now that are pointing to a bit of risk off perhaps as we get into the late summer. "I'm reminded of Stan Druckenmiller's words of disbelief when everyone was focused on the debt ceiling"
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