Sideways Indices, Falling Commodities — The Stronger US Dollar Effect | 29 June 2026

A stronger US Dollar has become the dominant force across every asset class this week. The global indices are holding up — the Dow, S&P 500, and NASDAQ are consolidating rather than weakening, and European and Asian markets are showing bullish indecision rather than red flags.

The likely read is that USD strength is tempering moves that would otherwise have closed higher. Commodities are where the pressure is most visible: gold and silver remain in downtrends with no confirmed reversal yet, and crude oil looks firmly bearish with $66 a realistic target.

Bitcoin is also under pressure at support and could be knocked toward $50,000 if USD strength accelerates. The message this week is patience — watch the US Dollar, because it is driving everything.

Timestamps
0:00 – Global overview: a stronger US Dollar is now driving every asset class
0:30 – Dow Jones: resistance and subtle divergence — sideways expected under USD pressure
0:50 – S&P 500 and NASDAQ: consolidation, watching the lows before reassessing
1:23 – FTSE 100: pushing higher, bullish indecision — not inherently weak
1:50 – DAX and Euro Stoxx: higher highs, sideways — USD tempering the upside
2:30 – IBEX and Nikkei: overextended but healthy — any pullback still a retracement
3:10 – ASX: bullish structure, battling 8,902 resistance
3:45 – Gold: dipped below support, some bullish divergence — downtrend still intact
4:30 – Silver: broke lower, bias creeping in but still bearish — continuation expected
5:18 – Crude oil: Brent and WTI firmly bearish, targeting $66 — Bitcoin also at risk toward $50,000

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Educational market analysis only.
This content does not constitute financial advice.
The views expressed are my own and reflect market conditions at the time of recording.
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