Next target for the US dollar is 120 at least - Harry Dent

Participating at FXStreet's discussion panel "What, When and Who? Be Ready for 2017", analyst and trader Harry S. Dent Founder, Dent Research, live from Florida suggests globalization peak is a major aspect which will affect financial markets.

Key Quotes

"Regarding Trumps trade wars when protecting weaker industries you affect export industries. The dollar thus far appears to be doing exactly what I said it as it looks poised to break out of a two-year trading range above 101 and head up towards 120. Such a rise will only weaken gold, oil and commodities further. We are the best house in a bad neighborhood. Gold correlates with inflation and we are under deflationary forces."

"Italian default is eminent, but that kind of events do take the market down, see Brexit and US election. We need something real like a Deutsche Bank default [...] Debt bubbles have to be restructured, but not with short-term solutions, and no soft landing."

"My indicators are showing the next three years are going to be the worst period for the global economy, in many aspects similar to what was experienced in the 30's"

"The next boom will be in emerging markets. India has great demographics..."

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