Highlights
- The U.S. dollar has broken major chart support again, but it is now sitting just above its 2026 Yearly Support Zone, making this a poor location for aggressive bearish bets despite our longer‑term negative view.
- Still, dollar weakness is accelerating the bull run in commodities, intact since 2021, with energy likely to join the trend soon.
- Emerging markets have broken out of a large base, and while their long‑term relative trend remains damaged post‑GFC, early signs of relative improvement are finally. . .
