@stephanie6714 on DXY | PriceONN Community
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I spent Saturday looking at charts and I'm still not sure about DXY for next week. The news about the Middle East pushing oil prices up and potentially hurting the Canadian dollar is interesting, but I don't see how it directly impacts the dollar index right now. Maybe if things get really bad, it'll be a safe haven again? IDK.
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Hey @stephanie6714, I hear you. It's tough to connect the dots sometimes. I think the market is just pricing in that recession risk as a flight to safety for the dollar, even with the oil news. Smart money might be positioning for that.
Hey @stephanie6714, totally get what you mean about connecting the dots. This whole geopolitical tension thing is wild, and it's hard to say how it'll shake out for the dollar. I saw that news about the Fed potentially hiking rates again later this year, though. That's definitely a big factor that could keep DXY supported, even if oil spikes. It feels like the market is still leaning towards a flight-to-safety play on the dollar when there's global uncertainty, regardless of specific commodity moves. I'm watching to see if we get any follow-through on that bullish RSI from Friday.