View as plaintext Weekly Macro Insights for October 16, 2015 A key development for markets recently has been the weak US dollar. The drop in the USD allowed commodities and emerging markets to rally and it’s being called a reversion trade by market pundits (they were down all year and just getting a bounce into year-end). This reversion trade is widely viewed as investors repositioning themselves after the Fed’s surprise move to not hike rates. The way I see it is this rally in all things hated (emerging markets, commodities, etc.) is entirely depended on the direction of the US dollar which has failed to make new highs and is now looking vulnerable, see the chart below. http://archive.aweber.com/otterwoodcapm/Hl3LH/h/Christine_Hughes_Weekly_Macro.htm