India Crypto Exchange

Best Bitcoin Trading Platform

Death Of Euro Currency Greatly Exaggerated

Death Of Euro Currency Greatly Exaggerated

Fed Watch is finished for this month with, as expected, NO ACTION. The two chances of slim and none were negligible though markets were in a holding pattern until it was official.The rate hike hysteria has a 60% probability for a December increase in the United States. Fears of the Fed pushed the dollar to 96 this week knocking the corresponding euro Currency below the 112 pivot…before this relief rally.

Euro FX Daily Chart

The summer BREXIT bombshell had driven the Euro below 112 for the first time since March. Extreme lows were posted at 110 the day of the dramatic vote. Interestingly, the surprise sell off slam was nowhere near the 105 decade plus lows posted in 2015. Higher lows after the ultimate currency crisis have been interrupted as sign of internal euro strength by some. The fifteen year plus chart is perspective of where the EURO HAS NOT BEEN against the backdrop of a bombshell vote result.

Euro Monthly Chart

The momentum move back above 112 in the ruro and the corresponding decline in the dollar down to 95 again demonstrates a dovish tone from the Fed. Interest rates in the US will change… just not anytime soon according to Fed funds prices.

0 0 votes
Notify of
0 评论
Inline Feedbacks
View all comments