Summary Of Last Week’s Influences:
Mercury represents trading one currency for another. Since Mercury turned retrograde, the value of the U.S. dollar to the world’s major currencies has declined to new lows for the year. On Friday the dollar index (DXY) hit a 52 week low, and made a new 2009 low against the euro. As Mercury stationed retrograde, the Chinese government expanded its plans to internationalize the renminbi, and a report by the U.N. Conference on Trade and Development said the dollar’s role as the world’s reserve currency should be reduced.
The stock market’s continued upward trajectory also weighed on the dollar, as the Fed
Mercury represents trading one currency for another. Since Mercury turned retrograde, the value of the U.S. dollar to the world’s major currencies has declined to new lows for the year. On Friday the dollar index (DXY) hit a 52 week low, and made a new 2009 low against the euro. As Mercury stationed retrograde, the Chinese government expanded its plans to internationalize the renminbi, and a report by the U.N. Conference on Trade and Development said the dollar’s role as the world’s reserve currency should be reduced.
The stock market’s continued upward trajectory also weighed on the dollar, as the Fed
