-
Four Charts That Signal EUR Has Further To Drop
EURUSD drop may have further to go given that the relative policy outlook would push Fed/ECB balance sheet ratio lower before long. Citi's Valentin Marinov believes, relative data surprises as well as forward looking cyclical gauges like bank stocks are starting to favor USD over EUR and he points out that leveraged accounts could start adding to shorts again as real money continue to sell EUR. Via Citi, The July ECB meeting underscored the prospect for larger ECB balance sheet from here. The upcoming Fed minutes and speeches as well as Yellen’s semi-annual testimony in coming weeks could highlights that the bank ... (full story)