{"id":474287,"date":"2022-07-15T14:10:00","date_gmt":"2022-07-15T11:10:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mark-hulbert-the-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next\/"},"modified":"2022-07-15T14:10:00","modified_gmt":"2022-07-15T11:10:00","slug":"mark-hulbert-the-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mark-hulbert-the-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next\/","title":{"rendered":"#Mark Hulbert: The U.S. dollar hasn\u2019t been this strong in 20 years. Here\u2019s what happened next."},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a414b3428ee7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a414b3428ee7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/mark-hulbert-the-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next\/#%E2%80%9CMark_Hulbert_The_US_dollar_hasnt_been_this_strong_in_20_years_Heres_what_happened_next%E2%80%9D\" >&#8220;Mark Hulbert: The U.S. dollar hasn\u2019t been this strong in 20 years. Here\u2019s what happened next.&#8221;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/mark-hulbert-the-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next\/#When_the_euro_starts_to_rally_against_the_dollar_consider_these_stocks_and_funds\" >When the euro starts to rally against the dollar, consider these stocks and funds.<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/mark-hulbert-the-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next\/#US_versus_European_equities\" >U.S. versus European equities<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/mark-hulbert-the-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next\/#Mark_Hulbert\" >Mark Hulbert<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMark_Hulbert_The_US_dollar_hasnt_been_this_strong_in_20_years_Heres_what_happened_next%E2%80%9D\"><\/span>&#8220;Mark Hulbert: The U.S. dollar hasn\u2019t been this strong in 20 years. Here\u2019s what happened next.&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"When_the_euro_starts_to_rally_against_the_dollar_consider_these_stocks_and_funds\"><\/span>\n  When the euro starts to rally against the dollar, consider these stocks and funds.<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0001028746\" role=\"document\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0001028746\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       A gutsy contrarian bet right now is that the strong U.S. dollar will weaken, particularly versus the euro. A secondary bold bet is that U.S. stocks will lag international equities.<\/p>\n<p> Dollar weakness would represent a reversal of a trend dating back several years. The U.S. Dollar Index<br \/>\n        DXY,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598269\/delayed\" class=\"negative\">-0.22%<\/bg-quote><span>,<\/span><br \/>\n       which reflects the dollar\u2019s strength vis-a-vis a basket of foreign currencies, is 50% higher than where it stood a decade ago \u2014 and has risen more than 20% since the beginning of 2021. The dollar\u2019s strength has been especially evident this year against the euro<br \/>\n        EURUSD,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210561242\/realtime\/sampled\" class=\"positive\">+0.34%<\/bg-quote><br \/>\n      : Earlier this week the euro traded below US$1, in fact \u2014 20% cheaper relative to the dollar than where it stood at the beginning of 2021.<\/p>\n<div class=\"paywall\">\n       The last time the dollar traded at parity with the euro was late 2002, two decades ago, and what h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened afterward fits the contrarian narrative. Over the subsequent five years the dollar weakened considerably against the euro; by early 2008 it took more than US$1.50 to buy one euro, compared to US$1.00 in late 2002. Over this same period, the U.S. Dollar Index fell by 40%.<\/p>\n<p>Not surprisingly, given that the dollar-denominated returns of non-U.S. stocks rise when the U.S. dollar weakens, the S&amp;P 500<br \/>\n        SPX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210599714\/realtime\" class=\"negative\">-0.30%<\/bg-quote><br \/>\n      seriously lagged the world stock markets over this five-year period. It lagged the FTSE World Ex-US index by almost five percentage points annualized, and the FTSE Europe Index by almost three percentage points.<\/p>\n<p>This five-year period through 2008 represents just one data point. To develop a more comprehensive picture, I measured the correlation between the dollar and the euro going back to the late 1990s, when the euro first started trading on foreign exchange markets. I found that the correlation is inverse: 12-month periods in which the dollar was stronger than the euro were more often than not followed by 12-month periods in which the dollar was weaker \u2014 and vice versa.<\/p>\n<p>This correlation was of only moderate statistical significance,  so it would be risky to bet everything on it. The strongest conclusion you can draw is that you should by no means bet that the trend of the past 12 months will persist. A somewhat less strong implication is that the past 12 months\u2019 trend may soon reverse itself.<\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<div style=\"padding-bottom:67.28571428571428%;\" data-subtype=\"photo\" class=\"image-container  responsive-media article__inset__image__image\">\n        <img decoding=\"async\" srcset=\"https:\/\/images.mktw.net\/im-584117?width=540&amp;size=1.4849187935034802 540w, https:\/\/images.mktw.net\/im-584117?width=620&amp;size=1.4849187935034802 620w, https:\/\/images.mktw.net\/im-584117?width=639&amp;size=1.4849187935034802 639w, https:\/\/images.mktw.net\/im-584117?width=700&amp;size=1.4849187935034802 700w, https:\/\/images.mktw.net\/im-584117?width=700&amp;size=1.4849187935034802&amp;pixel_ratio=1.5 1050w, https:\/\/images.mktw.net\/im-584117?width=700&amp;size=1.4849187935034802&amp;pixel_ratio=2 1400w, https:\/\/images.mktw.net\/im-584117?width=700&amp;size=1.4849187935034802&amp;pixel_ratio=3 2100w\" sizes=\"(max-width: 639px) 100vw, (max-width: 979px) 620px, (max-width: 1299px) 540px, 700px\" src=\"https:\/\/images.mktw.net\/im-584117?width=700&amp;height=471\" alt=\"\" title=\"\">\n      <\/div><figcaption class=\"wsj-article-caption article__inset__image__caption\" itemprop=\"caption\">\n      <\/figcaption><\/figure>\n<\/p><\/div>\n<p>       There is a strong correlation between contemporaneous changes in the dollar-euro exchange rate, on the one hand, and the performance of the S&amp;P 500 relative to that of the dollar-denominated return European stocks, on the other. The chart above shows the difference: In those months in which the dollar gained ground relative to the euro, the S&amp;P 500 beat the Vanguard European Stock Index Fund<br \/>\n        VEUSX,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202269453\/realtime\" class=\"negative\">-1.61%<\/bg-quote><br \/>\n       by an annualized 16.3%. In those months in which the dollar lost to the euro, in contrast, the S&amp;P 500 lagged the Vanguard fund by 9.5% annualized.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"US_versus_European_equities\"><\/span><strong>U.S. versus European equities<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Even if the euro isn\u2019t stronger than the dollar anytime soon,  contrarians would still bet that U.S. stocks will lag European equities. That\u2019s because European equities trade at much lower valuations than their U.S. counterparts, so even if the dollar-euro exchange rate stays constant they offer better value. If the euro strengthens against the dollar, then the return these stocks produce for dollar-denominated investors will be even better.<\/p>\n<p>One indication of how undervalued European stocks are, relative to U.S. stocks, comes from comparing their Cyclically-Adjusted Price-Earnings (CAPE) ratios. On this basis, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/indices.barclays\/IM\/21\/en\/indices\/static\/historic-cape.app\" class=\"icon none\">according to Barclays Indices<\/a>, European stocks as a whole currently are 31% more undervalued than the U.S. equity market (or 31% less overvalued, depending on your perspective).<\/p>\n<p>If you want to bet on European equities, an index fund is the cheapest way to gain diversified exposure. The ETF in this space with the most assets under management is the Vanguard FTSE Europe ETF<br \/>\n        VGK,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/200270338\/composite\" class=\"negative\">-1.65%<\/bg-quote><span>,<\/span><br \/>\n       with an 0.08% expense ratio (or just $8 per $10,000 invested).<\/p>\n<p>If you want to try individual stocks, below are the stocks of European companies that currently are recommended for purchase by top-performing <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>letters that my auditing firm monitors:<\/p>\n<table>\n<tbody>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong>Stock<\/strong><\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      <strong>Headquarters<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      AerCap Holdings NV (AER)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Ireland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Allianz SE Unsponsored ADR (ALIZY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Germany<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Amcor PLC (AMCR)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      AXA SA Sponsored ADR (AXAHY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      France<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      BASF SE Sponsored ADR (BASFY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Germany<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      BP p.l.c. Sponsored ADR (BP)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Cimpress Plc (CMPR)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Ireland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Credit Suisse Group AG Sponsored ADR (CS)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Switzerland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Eaton Corp. Plc (ETN)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Ireland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Exscientia Plc Sponsored ADR (EXAI)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Holcim Ltd Unsponsored ADR (HCMLY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Switzerland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Janus Henderson Group PLC (JHG)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Koninklijke Philips N.V. Sponsored ADR (PHG)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Netherlands<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Logitech International S.A. (LOGI)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Switzerland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Medtronic Plc (MDT)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Ireland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Nokia Oyj Sponsored ADR (NOK)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Finland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      NXP Semiconductors NV (NXPI)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Netherlands<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Pershing Square Holdings Ltd Public Class USD Accum.Shs (PSHZF)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Rio Tinto plc Sponsored ADR (RIO)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Sage Group plc Unsponsored ADR (SGPYY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Sanofi Sponsored ADR (SNY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      France<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Seagate <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">Technology<\/a> Holdings PLC (STX)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Ireland<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Shell PLC Sponsored ADR (SHEL)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Siemens AG Sponsored ADR (SIEGY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Germany<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      TotalEnergies SE Sponsored ADR (TTE)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      France<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data odd\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Vodafone Group Plc Sponsored ADR (VOD)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      United Kingdom<\/p>\n<\/td>\n<\/tr>\n<tr class=\"data even\">\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Volkswagen AG Unsponsored ADR (VWAGY)<\/p>\n<\/td>\n<td align=\"\" valign=\"top\" colspan=\"1\">\n      Germany<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><em>Mark Hulbert is a regular contributor to MarketWatch. His Hulbert Ratings tracks investment newsletters that pay a flat fee to be audited. He can be reached at <\/em><em>mark@hulbertratings.com<\/em><\/p>\n<p><strong>More:<\/strong> Bank of America slashes S&amp;P 500 target to \u2018lowest on the Street\u2019 after recession forecast<\/p>\n<p><strong>Also read: <\/strong>Here\u2019s the sector most at risk from Russia permanently shutting off gas to Germany \u2014 and it\u2019s taking a tumble<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>    <span>By<\/span><\/p>\n<div class=\"author mobile-scrim hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Mark Hulbert\",\"subhead\":\"The Wall Street Journal\",\"list\":[{\"type\":\"link\",\"icon\":\"bio\",\"url\":\"https:\/\/www.marketwatch.com\/topics\/journalists\/mark-hulbert\",\"text\":\"Biography\"},{\"type\":\"link\",\"icon\":\"twitter\",\"url\":\"https:\/\/twitter.com\/MktwHulbert\",\"text\":\"@MktwHulbert\"},{\"type\":\"link\",\"icon\":\"email\",\"url\":\"http:\/\/www.marketwatch.com\/news\/mailto:contributors@marketwatch.com\",\"text\":\"contributors@marketwatch.com\"}]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Mark_Hulbert\"><\/span>Mark Hulbert<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><ufc-follow-author-widget product=\"marketwatch\" author-id=\"124_MW\" author-name=\"Mark Hulbert\" signin-url=\"https:\/\/accounts.marketwatch.com\/login?target=https%3A%2F%2Fwww.marketwatch.com%2Fstory%2Fthe-u-s-dollar-hasnt-been-this-strong-in-20-years-heres-what-happened-next-11657879243%3Frss%3D1%26siteid%3Drss\" panda-api=\"https:\/\/follow-api.marketwatch.com\"><\/ufc-follow-author-widget><\/p><\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7FB2-8AC1700AED46%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Mark Hulbert: The U.S. dollar hasn\u2019t been this strong in 20 years. Here\u2019s what happened next.&#8221; When the euro starts to rally against the dollar, consider these stocks and funds. A gutsy contrarian bet right now is that the strong U.S. dollar will weaken, particularly versus the euro. A secondary bold bet is that U.S&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":474288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.mktw.net\/im-340551\/social","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-474287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/474287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=474287"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/474287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/474288"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=474287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=474287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=474287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}