claydoctor
Short

EURUSD AND OIL CORRELATION

FX:EURUSD   Euro Fx/U.S. Dollar
93 6 3
These two have been tight for a while. Don't know why, and have not heard any "talk" on this, so just observing, and for those trying to buy anything in the XLE             sector or the XLE             itself, at the oil             bottom, it isn't here yet. EURUSD             determined to go lower it appears, against everything else, pushing the dollar higher yet. Heard a good chat yesterday, bottom line, Oil             goes to 40, and if it breaks below, very very bad for economy, if it bounces there, then bottom is in, and we begin to heal from there. And Euro             zone parity with dollar gurus better watch out, they might just get what they ask for. Never seen currency battles like this before, once again like star trek, where no one has ever gone before. They think they know what they are doing, but with so many moving parts and players, and possible results, and so many moves, one of these times we end up in an unintended bad consequence I fear, and not sure of what result. Yikes.
jangseohee
2 years ago
One more plunge for oil
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Add gold to this list...I think you're mapping dollar strength here.
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claydoctor IvanLabrie
2 years ago
yes, but euro zone pushing euro down, resulting in dollar up, US does not want any stronger dollar any more, enough. Will turn ugly id it tips the scale here. Dollar needs to retreat to have any hope of exports increasing, or next quarter earnings will be a huge "sell in May (and this time April) and go away summer season.
+1 Reply
IvanLabrie PRO claydoctor
2 years ago
Indeed, I'm seeing a possible top in the dollar soon, one last wave up riding the interest rate hike expectations.
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jangseohee
2 years ago
claydoctor,
any explanation on this fundamentally?

J61!, Gold = Yen ?
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claydoctor jangseohee
2 years ago
nice point Jang. I will have to do some homework on that pair.
+1 Reply
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