Royal Wedding & a Dollar Funeral

US dollar index posts a 5th down month, the longest monthly losing streak since 2009. It lost 4.9%, similar to the 5.1% and 5.2% declines in September and July 2010 respectively. Gold hits new high at 1542. The last time USDX fell more than 5 consecutive months .....

The last time USDX fell more than 5 consecutive months was in 2002-2003 when it fell 10 months in a row. US Mar consumption data was in line with spending at +0,6% and core PCE price index held at 0.9% y/y. EURUSD has yet to break 1.49, while AUDUSD hits new high at 1.0965. The road to 1.5050 remains intact as long as there is NO daily close below 1.47.

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