GO
Loading...

US Dollar's Strength is Waning: Charts

The U.S. dollar's strength appears to be waning as the focus turns from Europe's debt worries to China's possible appreciation of its currency, Chris Zwermann, global strategist and technical analyst at Zwermann Financial said Tuesday.

The dollar will likely fall against its Canadian counterpart, the euro and emerging market currencies in the short- to medium-term, Zwermann said.

The U.S. dollar will pull back to below parity with the Loonie, with a target of 0.90 Canadian dollars in the next two to three months, he said.

- Watch the video above to see the full interview with Chris Zwermann.

"If China starts to devaluate the dollar, to upgrade the yuan, we might see even a further weakness on the U.S. dollar worldwide, which means also against the euro," Zwermann said.

Most emerging market indexes jumped over the barrier where they were before the crisis in April, making new all-time highs, Zwermann said.

He predicts that Turkey and Indonesia's stock markets will rise further, with the respective countries' currencies gaining against the greenback.

Contact Europe News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    To learn more about how we use your information,
    please read our Privacy Policy.
    › Learn More

Europe Video

  • Heathrow has been dethroned by Dubai International as the busiest international air hub. Paul Griffiths, CEO of Dubai Airports, says that "long term vision" is the key to Dubai's city growth and therefore its air traffic.

  • Crispin Hawes, managing director at Teneo Intelligence talks about the tensions that have been rising in Yemen, saying that this will be a "painful headache" for the new Saudi Arabian king.

  • CNBC's Rick Santelli talks about the disappointing data about durable goods and how the U.S. Federal Reserve is involved.