U.S. dollar scores first ‘golden cross’ since July 2021, signaling more trouble for stocks ahead

The U.S. dollar has completed its first “golden cross” since July 2021, which could mean the greenback is going higher, creating more problems for stocks.

Heading into Friday’s settlement, the 50-day average on the ICE U.S. Dollar Index DXY, a gauge of the buck’s value against a basket of its biggest rivals that’s heavily weighted toward the euro, stands at 103.15, higher than the 200-day moving average, which was 103.11.

The…