Bloomberg Surveillance · Thursday, July 2, 2026
Kathy Kaminski discusses the strengthening US dollar over the past month, which has impacted commodities, and notes the opposite move occurring today. She sees a moderate bullish signal for equities due to volatility but advises proceeding with caution, highlighting that trends are strong but not at extreme levels.
“We did actually see the dollar strengthen a lot over the last month. That was particularly interesting specifically for commodities. I think that also helped kind of cause some reversal in the commodity trends as well, because it makes commodities more expensive when the dollar rallies like that, we are seeing the opposite move today.”
“So equities, because of the volatility that we've seen, is sort of a moderate bullish signal. I'd say that you've seen sort of it's not all systems go by any means, and that's because you've seen a lot of hesitation in the price action you've seen.”
“But why you continue to be long equities is because there's always seems to be buying pressure when you have that reversal. But these reversals are happening, so it's not sort of an all systems go trend. It's definitely you know, proceed with caution.”