Tuesday, July 8, 2014

forex contingent

Not the ideal start to a week where many expected more enthusiasms to be expressed across the various asset classes, especially after last week’s strong U.S. employment headline print. Maybe the market is priming itself for the summer doldrums. The global equities excuse is that investors prefer to assess equity valuations ahead of corporate earnings reports. Too many investors think it’s a tad rich at record highs to consider jumping in with both feet.
The forex contingent continues to live off scraps, with the 18-member single unit being squeezed mostly on the crosses rather than outright. Today the EUR happens to get a small lift from an ‘old foe,’ the U.K., whose headline economic releases have managed to push the pound to different heights, something that was not expected.