Patriots Day Chaos: Dollar Surges, Bonds Fall, Gold Reverses

The markets have displayed an unusual trend on Patriots Day in 2026. The US dollar is trading higher at 98.880, while crude oil prices are lower at 99.18. This is a normal correlation between these two assets. However, the 30-year T-Bond is trading lower by 11 ticks, which contradicts the expected inverse relationship with the US dollar.

The S&P 500 e-mini contract is higher by 178 ticks, trading at 7642.75, while gold prices are lower at 4389.20. This suggests an inverse correlation between gold and the US dollar. According to the source, 'I tend to believe that Gold has an inverse relationship with the US Dollar as when the US Dollar is down, Gold tends to rise in value and vice-versa.'

Asia's markets are trading lower, while Europe's markets are higher. The source notes several upcoming economic releases, including Core CPI m/m, Major Core CPI y/y, Prelim UOM Consumer sentiment, and Prelim UOM Inflation.