Overall there is bad data out for U.S. and the Euro zone. The bad data might not stop yet as we will be continuing seeing bad economic data in 2019 as global growth slow down.
USD and JPY is known as safe heaven, and could be the reason we have seen large moves in the JPY over the past couple of weeks.
U.S 30 year mortgage rate declined to 4,75% and could give USD a push next time data of Mortgage application and house sales is released. this will also support the inflation, while commodities will also likely support a stronger dollar against the Euro.
The 3M Euro money supply is down from previous numbers and could also support a decline in the Euro.
On the Chart you see a widening spread between EURIBOR(the red line) rate and EURODOLLAR rate (The blue line). This means that Deposits of the euro gives you a -0,33% While holding EURODOLLAR´s give an interest rate of 2,68%, and with the widening spread, the Highest rate is always the winner.
Short from 1,15700 And adding more to my Short at 1,13650 and again at 1,12900.
Remember that ECB is about to end QE and bond buying program, which means that the liquidity that ECB gave to the Euro and the market is slowly fading.
USD and JPY is known as safe heaven, and could be the reason we have seen large moves in the JPY over the past couple of weeks.
U.S 30 year mortgage rate declined to 4,75% and could give USD a push next time data of Mortgage application and house sales is released. this will also support the inflation, while commodities will also likely support a stronger dollar against the Euro.
The 3M Euro money supply is down from previous numbers and could also support a decline in the Euro.
On the Chart you see a widening spread between EURIBOR(the red line) rate and EURODOLLAR rate (The blue line). This means that Deposits of the euro gives you a -0,33% While holding EURODOLLAR´s give an interest rate of 2,68%, and with the widening spread, the Highest rate is always the winner.
Short from 1,15700 And adding more to my Short at 1,13650 and again at 1,12900.
Remember that ECB is about to end QE and bond buying program, which means that the liquidity that ECB gave to the Euro and the market is slowly fading.