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Weekly Chart flow

Overview:

  • Relative performance of EM and cyclical based economies are not confirming a bottom in growth
  • EM currencies are not showing similar strength to the economic bottom in 2016
  • Copper, aluminum, steel, and auto PMIs are also not confirming the pick up in growth that equities are
  • Given these divergences, the probabilities of the dollar moving higher are greater than 60%

http://pervalle.com/2019/03/weekly-chart-flow-3-11-2019/

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