Don't Write Off This Civilization, Just Yet

Quite a bit of buzz again about the death of the Dollar of late, especially in light of the selloff in the greenback. 

And while I am quite bullish on commodities due to entrenched inflation for the rest of the decade, in the short-term I still think the Dollar has some unfinished business above. 

In particular, we spent some time this weekend with Members discussing the base effect of inflation and how with next month's inflation data (e.g. CPI for July which will be reported in August) we could easily see upside surprises with hot reading just as many folks have assumed deflation is imminent.

Thus, a resurgent Dollar off the dip, and rates, is still a threat into the heart of Q3 and Q4 of 2023. 

On the updated Dollar/Yen cross, $137 has been pretty good support so far after the recent swoon, as it was previous tough resistance as seen on the daily chart, below. 

So while many eyes with be on NFLX TSLA earnings this week, and others, I have an eye on the greenback, too.