Markets under control despite resounding OXI from Greece yesterday. As we noted last night the price action is about testing the levels form last week and overall key levels for the indices and macro. Right now the Euro us holding the range but has been weakening over the last hour to see if we test when the US gets back from a long holiday weekend. I wouldn’t expect the fireworks are over for today. The real level to hold is 1.075 in our view. We would be playing the Euro short to that level.
Meanwhile the DXY has finally broken through the key 96.25 level it was holding despite a week of tests that started last Sunday night. Again, the jury is still out on a move higher if it can’t hold these gains but we are confident that Fed dynamics( Fed minutes this Wednesday btw) and Europe are all this index needs. We think you stay long the Dollar across 100 on the DXY. Commodities appear to be collateral damage today (see below).
To Subscribe Click Here Already a subscriber? Login and select Trade Ideas to view the full report.
- Missing Chinese climber confirmed dead in TibetSource: China.orgPublished on 2017-11-18
- China honors founding scientist of FAST telescopeSource: China.orgPublished on 2017-11-18
- Xi shows great respect for two aged honoreesSource: China.orgPublished on 2017-11-18
- 5-magnitude earthquake hits TibetSource: China.orgPublished on 2017-11-18
- Beijing and nearby areas report more ‘good air’ daysSource: China.orgPublished on 2017-11-17
- Your first trade for Friday, November 17Source: Fast MoneyPublished on 2017-11-17
- Xi honors ethical role modelsSource: China.orgPublished on 2017-11-17
- Xi Jinping to raise China higher: Indian expertSource: China.orgPublished on 2017-11-17
- Aerospace expertise used to identify, track pollutionSource: China.orgPublished on 2017-11-17
- Drama helps reaffirm life for cancer patientsSource: China.orgPublished on 2017-11-17
- Nanjing Massacre survivor dies; 99 remainSource: China.orgPublished on 2017-11-17
- Wal-Mart has awaken, and Amazon should be worried: Former JCP CEOSource: Fast MoneyPublished on 2017-11-16
- Verizon in early stages of looking at 21st Century Fox’s assets: ReportSource: Fast MoneyPublished on 2017-11-16
- CNBC parent Comcast & 21st Century Fox merger a good idea?Source: Fast MoneyPublished on 2017-11-16
- Xi calls on HK youths to serve HK, countrySource: Xi calls on HK youths to serve HK, countryPublished on 2017-06-30
- Missing Chinese climber confirmed dead in Tibet