Quick FX Market Comment
Overall, the currency world wants to sell euros and ask questions later. The big drop on June 21st cast a pall on the euro and it hasn t recovered since that time. While EUR/USD had an outside reversal on Friday, it has since disappointed and put in new lows every day this week. For those of you still long, I would keep your stops around 1.2425. tin snip Taking a step back, the EUR/USD remains well within the 1.2285-1.2825 range it has had since mid-May. But we are falling down to the lower end of it as there is no current hope that this week s EU leader summit will produce a meaningful step towards solving the fiscal union question. I still believe the establishment of a banking union and the ECB receiving tin snip authority to regulate banks is the best that can be expected. It would be a meaningful step down the path of stabilizing the European financial system. tin snip
Blog Archive tin snip Select month May 2014 April 2014 March 2014 February 2014 January 2014 December 2013 November 2013 October 2013 September 2013 August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February tin snip 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 June 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 April 2009 March 2009 February 2009 January 2009
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Engage with Andy Busch: Jim Iuorio from TJM Investment Services Engage with Andy Busch: Lord Abbett’s Milton tin snip Ezrati #BuschUpdate w/ BMO private bank CIO Jack Ablin #BuschUpdate tin snip w/ Michael Darda Chief Economist of MKM Partners #BuschUpdate WSJ Reporter
Archive Select month May 2014 April 2014 March 2014 February 2014 January 2014 December tin snip 2013 November tin snip 2013 October 2013 September 2013 August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February 2012 January 2012 December tin snip 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 June 2010 May 2010 April 2010 March 2010 February tin snip 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 April 2009 March 2009 February 2009 January 2009
Overall, the currency world wants to sell euros and ask questions later. The big drop on June 21st cast a pall on the euro and it hasn t recovered since that time. While EUR/USD had an outside reversal on Friday, it has since disappointed and put in new lows every day this week. For those of you still long, I would keep your stops around 1.2425. tin snip Taking a step back, the EUR/USD remains well within the 1.2285-1.2825 range it has had since mid-May. But we are falling down to the lower end of it as there is no current hope that this week s EU leader summit will produce a meaningful step towards solving the fiscal union question. I still believe the establishment of a banking union and the ECB receiving tin snip authority to regulate banks is the best that can be expected. It would be a meaningful step down the path of stabilizing the European financial system. tin snip
Blog Archive tin snip Select month May 2014 April 2014 March 2014 February 2014 January 2014 December 2013 November 2013 October 2013 September 2013 August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February tin snip 2012 January 2012 December 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 June 2010 May 2010 April 2010 March 2010 February 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 April 2009 March 2009 February 2009 January 2009
You may use these HTML tags and attributes <a href="" title=""> <abbr title=""> <acronym tin snip title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>
Engage with Andy Busch: Jim Iuorio from TJM Investment Services Engage with Andy Busch: Lord Abbett’s Milton tin snip Ezrati #BuschUpdate w/ BMO private bank CIO Jack Ablin #BuschUpdate tin snip w/ Michael Darda Chief Economist of MKM Partners #BuschUpdate WSJ Reporter
Archive Select month May 2014 April 2014 March 2014 February 2014 January 2014 December tin snip 2013 November tin snip 2013 October 2013 September 2013 August 2013 July 2013 June 2013 May 2013 April 2013 March 2013 February 2013 January 2013 December 2012 November 2012 October 2012 September 2012 August 2012 July 2012 June 2012 May 2012 April 2012 March 2012 February 2012 January 2012 December tin snip 2011 November 2011 October 2011 September 2011 August 2011 July 2011 June 2011 May 2011 April 2011 March 2011 February 2011 January 2011 December 2010 November 2010 October 2010 September 2010 August 2010 July 2010 June 2010 May 2010 April 2010 March 2010 February tin snip 2010 January 2010 December 2009 November 2009 October 2009 September 2009 August 2009 July 2009 June 2009 April 2009 March 2009 February 2009 January 2009
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