Dollar turns around

Jason Goepfert
2020-09-22

On Friday, the S&P 500 slipped below its 50-day moving average for the first time in months and now on Tuesday the U.S. dollar just rose above its own 50-day for the first time since May. Intermarket relationships have been pretty tight lately. We'll take a closer look at this on Wednesday, but when the dollar ended a long streak below its 50-day average during long-term downtrends, it sported a negative return 16 out of 19 times at some point during the next 1-3 months. It's been really hard for the currency to hold positive momentum.

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