Well not so ugly. The dollar index is hovering around its short-term trend, but is now below the 20-day sma. No clear break of trend yet.
Crude looks like it is rolling over. We heard Fareed Zakaria say on his CNN show the morning that Israeli Prime Minister Benjamin Netanyahu even admits Iran is starting to “wobble,”
ZAKARIA: We’ve got to go on. I wanted to change the subject entirely, Iran. Mort, one of the things the president has done over the last few weeks has been to really ratchet up the pressure on Iran. For the first time that I’ve ever heard Bibi Netanyahu saying the pressure is working. The sanctions are working. The Iranians are wobbling.
Short-term it’s all about what the EU does with sanctions.
(click here if chart is not observable)