{"id":1461326,"date":"2024-03-07T21:00:00","date_gmt":"2024-03-08T02:00:00","guid":{"rendered":"https:\/\/bugaluu.com\/news\/?p=1461326"},"modified":"2024-03-07T21:00:00","modified_gmt":"2024-03-08T02:00:00","slug":"dollar-dives-near-2-month-lows-as-bitcoin-bullion-hit-new-record-highs","status":"publish","type":"post","link":"https:\/\/bugaluu.com\/news\/dollar-dives-near-2-month-lows-as-bitcoin-bullion-hit-new-record-highs\/1461326\/","title":{"rendered":"Dollar Dives Near 2-Month Lows As Bitcoin & Bullion Hit New Record Highs"},"content":{"rendered":"

Dollar Dives Near 2-Month Lows As Bitcoin & Bullion Hit New Record Highs<\/span><\/p>\n

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Another day, another ‘buy all the things’ move in markets as the dollar extended yesterday’s decline.<\/p>\n

<\/a><\/p>\n

The dollar was down for the 5th straight day to the lowest close since Jan 15th. This has been the biggest 2-day-decline since mid-December…<\/strong><\/p>\n

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Source: Bloomberg<\/em><\/p>\n

The dollar’s losses were driven in large part by yen’s strength<\/strong> (after wage growth soared and sent BoJ rate-hike expectation soaring)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

And Euro strength (after ECB) also helped push down the dollar<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

As the dollar dived, everything else rallied – stocks, bonds, bitcoin, and gold all gained..<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

All the majors were higher again today, led by Nasdaq.<\/strong> The Dow as the laggard but still managed decent gains on the day, even though its closing below the cash-session open. The European session was a buy-fest<\/p>\n

<\/a><\/p>\n

The S&P’s gains today took it positive for the week and puts it on pace to be the 17th positive week in the last 19 weeks – the longest streak since 1964…<\/strong><\/p>\n

<\/a><\/p>\n

Mag7 stocks rebounded from Tuesday’s decline (can’t help but feel like that was a very technical move ahead of tomorrow’s payrolls print)…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

VIX refused to play along with the equity squeeze…<\/p>\n

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Source: Bloomberg<\/em><\/p>\n

Bonds were bid today with the short-end outperforming (2Y -5bps, 10Y -2bps)<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Which prompted some bull-steepening in the curve…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Bitcoin extended yesterday’s bounce, back up to $68,000 and ending at a record close…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Which comes after another solid net inflow day (+$332mm) for BTC ETFs…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Ethereum extended further today, topping $3900 once again…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Oil prices chopped around but ended basically unchanged with WTI just below $79…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

Finally, we keep hearing about the ‘broadening’ of the rally (as some way to compensate for Mag7’s slowdown). But, judging from the underlying members and their moving averages, that just ain’t true…<\/p>\n

<\/a><\/p>\n

Source: Bloomberg<\/em><\/p>\n

“Today just feels\u2026 different,” <\/strong><\/em>says JPMorgan trader Matt Reiner in a note to clients this morning.<\/a><\/p>\n

“I can\u2019t help but sense that we\u2019re at the apex of some unknown pivot point in the market.<\/strong> I can\u2019t shake it.”<\/em><\/p>\n<\/div>\n

Tyler Durden<\/a><\/span>
\nThu, 03\/07\/2024 – 16:00<\/span><\/p>\n

\u200bhttps:\/\/www.zerohedge.com\/markets\/dollar-dives-near-2-month-lows-bitcoin-bullion-hit-new-record-highs<\/a>\u00a0<\/p>\n

\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"

Dollar Dives Near 2-Month Lows As Bitcoin & Bullion Hit New Record Highs Another day, another ‘buy all the things’ move in markets as the…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-1461326","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/pbimBl-689M","jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1461326","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/comments?post=1461326"}],"version-history":[{"count":0,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/posts\/1461326\/revisions"}],"wp:attachment":[{"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/media?parent=1461326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/categories?post=1461326"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bugaluu.com\/news\/wp-json\/wp\/v2\/tags?post=1461326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}