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The Euro has gone from the ‘basket case’ in a slow upward grind – which has caught many by surprise particularly on the crosses. Many big names have been advocating selling on the way up for that gap fill under 1.0700 or so… This week may have taken care of some of that you would think
So dovish yet so many people are willing to pay up. I guess people think the European economy is cured. Probably have to thank TheTrump for part of this move as well. Something to keep in mind before mortgaging the house to buy Euro is that EU data usually lags the US. My two cents!
[quote=”HeidsterTrades” post=129]So dovish yet so many people are willing to pay up. I guess people think the European economy is cured. Probably have to thank TheTrump for part of this move as well. Something to keep in mind before mortgaging the house to buy Euro is that EU data usually lags the US. My two cents![/quote]
Indeed the latest Russian comment sent the USD down and the ES too – except the ES recovered. Does that mean the ES investors don’t care or was today’s currency move more exiting the US dollar for other reasons?
[quote=”GPG” post=128]Looks like the market has decided that the Fed is finished with rate hikes for the year[/quote]
Yes seems some Fed fatigue going on and the bund/10year spread suggests likewise.
At the end of last year
I went from short CADUSD to long EURUSDwhile concerned about the peak U.S. auto buying I still held my only auto manufacturing play Magna International $MGA (its a play on Europe recovery) I wanted to pick a European bank too but I still feel there will be trouble ahead from Italy, so holding off on that for now.
[quote=”Assistanc3″ post=132]At the end of last year
I went from short CADUSD to long EURUSDwhile concerned about the peak U.S. auto buying I still held my only auto manufacturing play Magna International $MGA (its a play on Europe recovery) I wanted to pick a European bank too but I still feel there will be trouble ahead from Italy, so holding off on that for now.[/quote]
Italy still has the bank overhang and as always it seems political uncertainty overhanging. Seems to be forgotten with Brexit and the French elections.
[quote=”Assistanc3″ post=133]could this be weighing on USD?
Saudi exports to the US hit a 7 year low
Good find – while good for bringing in the trade deficit it takes a lot of dollars to be bought off the table.
[quote=”ThePitBoss” post=138][quote=”Assistanc3″ post=133]could this be weighing on USD?
Saudi exports to the US hit a 7 year low
Good find – while good for bringing in the trade deficit it takes a lot of dollars to be bought off the table.[/quote]
Just out: SaudiArabia U.S. July crude #oil imports from KSA set to drop to 847kbd, down 12.5% from June’s 968kbd. Kpler via BBG
EURUSD continues its march higher after successfully holding above the May 2016 1.16157 high gathering energy to break above the high for the day testing 1.1680 next is the figure confluence and hour trend at 1.1698-1.1704. REcall 1.1711 is spike high from August 2015.
[quote=”KnovaWave” post=185]EURUSD continues its march higher after successfully holding above the May 2016 1.16157 high gathering energy to break above the high for the day testing 1.1680 next is the figure confluence and hour trend at 1.1698-1.1704. REcall 1.1711 is spike high from August 2015.[/quote]
Great call and heads up it nabbed that 1.1711 today – pulled back to 1.1655 here
EURUSD taken out that August 2015 high at 1.1711 – recall tapped yesterday and price fell – broken and stops to high of 1.17378.
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