Panic stock market sell-offs set the stage for continued S&P weakness into what promises to be a critical week for the US Dollar and broader financial markets. The S&P 500 finished the third quarter a whopping 14.33 percent below its open and marked a fifth consecutive month of declines.
US Dollar Rises To C$1.05, Highest Level Since September 2010
The New Zealand dollar slipped to a fresh monthly low of 0.7606 and the high-yielding currency may continue to lose ground over the following week as the fundamental outlook for the isle-nation deteriorates.
Gold traded heavy during the last week of September and the bearish sentiment underlying the bullion may carry into the following month as market participants diversify away from the precious metal.
The AUDUSD and NZDUSD have broken trendlines that date back to 2008 and 2009, respectively.
When it comes to a discussion about a strong dollar and ETFs, the conversation will usually find its way to the PowerShares DB US Dollar Index Bullish ETF (NYSE: UUP).
Continue to look higher in the EURAUD as long as price is above its Elliott channel and specifically 13779
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Deciding which Charts to Use for the Analysis
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