Concerning to see the change of tune from Powell, starting to harden his stance on more rate hikes this year and Central Banks around the globe follow like lemmings. What is interesting is that with the rising USD, the Nasdaq is powering up whereas previously any talk of rate hikes was driving it down. Also interesting to note his reported comments on crypto starting to look like an asset with some 'staying power'. Can't help but think he is pandering to the investment banks and others who are heavily invested in crypto - just look at how the crypto market has been buoyed by those comments (in contrast to the recent commentary concerning tighter regulation that was depressing crypto).
Seems like PM's are the major losers as the USD rises, in stark contrast to the many pundits who were expecting Gold to power on to record highs in the second half of 2023 and into 2024. The sooner this world finds alternatives to break its reliance on the USD, the better! Just MHO.
EVN Price at posting:
$3.31 Sentiment: Hold Disclosure: Held
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