Today’s Chart of the Day was shared by Peter Brandt (@PeterLBrandt). It's a monthly bar chart of US Dollar Index Futures over the past 8 years. The Dollar just had its worst month in more than a decade, however, Peter points out that it's testing a key long-term support level around $103. The Dollar had been stuck in a range for 5 years prior to breaking out in May, and this is the first time we're retesting that range since. Any potential rebound in the Dolar would likely put pressure on Stocks and other risk assets, so this will be an important test for the broader markets.
Chart of the Day - Monday, December 5th, 2022
December 5, 2022
