Real Vision co-founder explained one negative & one positive fact for this money market for this week, which may overall give better support for the all money market.
Raoul Pal is the chief executive officer & co-founder of Real Vision. Pal joins Sahil Bloom and Greg Isenberg to discuss his future in the financial space and why you always need to stay true to your convictions. Usually, he keeps shares about the current money market situation and also keeps his followers updated about the ongoing ups & downs in the money market, which includes crypto, stock markets dominantly & US economy.
On 29 August, Real Vision CEO took to Twitter to inform his 9,75k followers that he is closely analyzing the US dollar index (DXY), which is following the strength parabolic path.
If the dollar keeps going, it's going to really break things. It has literally done parabolic… pic.twitter.com/hZExmpFVSc
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— Raoul Pal (@RaoulGMI) August 29, 2022
According to ex-Goldman Sachs executive, if the Dollar follows a similar strength path then it could result in something significant negative for the money market (stock, Securities, crypto).
“There is nothing until 120 if we break this weak trend line… And deviation from trend suggests it can get to 120 too.”
The majority of the experienced traders followed the DXY curve, to predict whether the risky assets are under the situation of a sell-off region or are in buy support.
Pal believes that the US dollar index may follow a similar path in near future but still, it doesn’t bear too much risk for the crypto market because there is another positive reason to see behind this index.
Pal noted weak economic data reports this week may act as a grace point in support of the money market. He said that many economic data releases are in the due queue and the majority of them will show a downturn, which means a downturn in the US economy.
Read also: Nexo team will re-purchase $50М worth of Nexo token
Dollar strength causes a nasty week in risk assets, says former Goldman Sachs executive
https://bitcoinik.com/dollar-strength-causes-a-nasty-week-in-risk-assets-says-former-goldman-sachs-executive/feed/
https://bitcoinik.com/dollar-strength-causes-a-nasty-week-in-risk-assets-says-former-goldman-sachs-executive/feed/
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