Dollar Reversal: Prepare for oil and gold prices to drop this week!
Net shorts on a decline in the euro came in at 21,315 on April 29 — compared with net longs of 18,907 a week earlier, according to the Commodity Futures Trading Commission (CFTC). Currency strategists now expect the dollar reversal to reach $1.52 within the next few days. That’s not a whole lot, compared to the epic decline of the greenback against the euro and almost all other major currencies over the past four years. So far, however, the U.S. currency has appreciated 3.6 percent from its record low of $1.6019 on April 22. (As a reminder, $1.60 per euro had been… SHARETHIS.addEntry({ title: "Dollar Reversal: Prepare for oil and gold prices to drop this week!", url: "http://jutiagroup.com/2008/05/05/dollar-reversal-prepare-for-oil-and-gold-prices-to-drop-this-week/" });
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