Report
EUR 8.70
For Business Accounts Only
http://trackresearch.com/articles/the-morning-track-foot-washing/
We are in the month-end unwind stage for trading – welcome also to Maundy Thursday, the Holy Thursday before Easter. Holidays, Quarter-Ends and Geopolitics slosh together and require a good foot washing before we can end the week and month. The price action is wandering and focus about risks has dwindled leaving most content to wait it out to Monday. The news flow overnight revolved around the usual – joy in North Korea talking, hope for UK/Irish deals on Borders and Brexit, less fear that US/China trade devolves into a war. The economic data remains less sanguine with China debt rising, with German flash CPI lower than expected, with the Swiss KoF lower – all continue to point to risk about 2018 growth. The confidence game for markets is not going well and the 1Q end tomorrow will be the pain trade that makes 2Q look for a resurrection – something that rests on rates and central bankers to perform with FX as the chaser. The drop in European growth momentum puts
the focus on the ECB and Draghi to talk his way back to butterflies and whatever it takes to support the growth out of debt and doubt from ugly politics. This puts the EUR back in play and 1.2240 back into the focus on the day.
The Morning Track foot-washing
- The Morning Track - Foot-washing by Bob Savagehttp://trackresearch.com/articles/the-morning-track-foot-washing/
We are in the month-end unwind stage for trading – welcome also to Maundy Thursday, the Holy Thursday before Easter. Holidays, Quarter-Ends and Geopolitics slosh together and require a good foot washing before we can end the week and month. The price action is wandering and focus about risks has dwindled leaving most content to wait it out to Monday. The news flow overnight revolved around the usual – joy in North Korea talking, hope for UK/Irish deals on Borders and Brexit, less fear that US/China trade devolves into a war. The economic data remains less sanguine with China debt rising, with German flash CPI lower than expected, with the Swiss KoF lower – all continue to point to risk about 2018 growth. The confidence game for markets is not going well and the 1Q end tomorrow will be the pain trade that makes 2Q look for a resurrection – something that rests on rates and central bankers to perform with FX as the chaser. The drop in European growth momentum puts
the focus on the ECB and Draghi to talk his way back to butterflies and whatever it takes to support the growth out of debt and doubt from ugly politics. This puts the EUR back in play and 1.2240 back into the focus on the day.
Provider
Track
TRACK.COM is an independent platform for investment research and market ideas. TRACK.COM research and analysis is used daily by hedge funds, proprietary trading desks, central banks and institutional asset managers to make investment decisions. These clients view Track.com as a trusted partner – our real-time research is thoughtful, well organized and right on target.
Robert Savage
Other Reports from Track
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.