– “If You Blinked, You Missed The Euro Correction”.

Daily Profit Shared To Members As Per Their Investments!
Use the benefits of a relevant portfolio of investments. Join here: Questra: https://atlanticgam.es/partner=P09201493430171

http://www.brotherjohnf.com/blinked-missed-euro-correction/ – “If You Blinked, You Missed The Euro Correction”. —

zerohedge.com / by Tyler Durden / May 31, 2017 7:23 AM

As SocGen’s Kit Juckes writes in his daily FX note, the currency market has been a “mess to end May”, noting that the month is ending on mixed note, but the themes of the month are pretty clear: the Euro and its satellite currencies were the big winners this month, benefitting from decent economic data, reduced political risk and a focus on the ECB’s timorous exit from crisis policy settings. The big losers were the Brazilian real (politic) and Sterling (politics). In between that lot, the ZAR benefited from political optimism, NZD from higher milk prices, AUD suffered from weak iron ore prices and JPY has held up reasonably well, just as the dollar has struggled somewhat under the weight of depressed bond yields.

Looking at the Euro specifically, Juckes writes that the common currency rally is being slowed down by the build-up of big long positions, the gap between how far the currency has gone and the move in relative yields, and the rhetoric of the ECB President. All of which argue for buying a corrective dip which hasn’t really happened yet. The pull-backs so far have been modest, testimony to the underlying strength of the upward trend. EUR/JPY has disappointed of late, after rallying sharply from mid-April to mid-May, but it remains the most attractive Euro long other than EUR/GBP.

Further, the SocGen strategist higlights the importance of politics as a market driver which “can’t be overstated.”

READ MORE

The post “If You Blinked, You Missed The Euro Correction” appeared first on Silver For The People.

–(Published @ May 31, 2017 at 03:00PM by www.bitcoins.am™ Instant Real-time Bitcoin News Aggregation Source- From: ) #bitcoinnews

„If You Blinked, You Missed The Euro Correction“ – Silver For The People
www.brotherjohnf.com
 

 Bitcoin News- www.bitcoins.am
 Posted on Facebook
 Blogged by Blo.gl
 Indexed in Google
 

Get a great marketing system from Markethive for free
Join Markethive here: http://markethive.com/magistral/

Schreibe einen Kommentar

Deine E-Mail-Adresse wird nicht veröffentlicht. Erforderliche Felder sind mit * markiert.