$EUR - Be prepared...!
$EUR - What a mess!
We've shifted gears this morning.
Fundamental reasons as I stated in my previous posts and various others there is no good data coming out of EUR. Now as you look across the board its DXY move and you have precious metals, crypto, Indices and majors under pressure. This could continue! However, further insight will be happening at Jackson Hole. Which is another event to see what Powell has to say - Dovish or Hawkish. Europe shot themselves in the foot when it comes to further sanctions, as Europe overall heads into an energy crises. Germany & French electricity prices keep climbing, hit fresh records. German year-ahead power is on a nine-day rising streak. Contract rose 1.4% to record 545 euros per MW/h. Europe year-ahead coal futures climbed 2.1% to a record $311.50 a ton, and the river Rhine having issues due to low levels and lastly German producer prices on record (+5.3% MoM). It really doesn't look very pretty at all!
Have a great weekend,
TJ
$EUR - What a mess!
We've shifted gears this morning.
Fundamental reasons as I stated in my previous posts and various others there is no good data coming out of EUR. Now as you look across the board its DXY move and you have precious metals, crypto, Indices and majors under pressure. This could continue! However, further insight will be happening at Jackson Hole. Which is another event to see what Powell has to say - Dovish or Hawkish. Europe shot themselves in the foot when it comes to further sanctions, as Europe overall heads into an energy crises. Germany & French electricity prices keep climbing, hit fresh records. German year-ahead power is on a nine-day rising streak. Contract rose 1.4% to record 545 euros per MW/h. Europe year-ahead coal futures climbed 2.1% to a record $311.50 a ton, and the river Rhine having issues due to low levels and lastly German producer prices on record (+5.3% MoM). It really doesn't look very pretty at all!
Have a great weekend,
TJ