A few interesting insights via foreign exchange markets. As Hedgeye CEO Keith McCullough pointed out to subscribers this morning:
"The strong recovery day for the US Dollar yesterday after holding 94 @Hedgeye TREND support during the 2 week correction – rest of the world’s equities (Europe and Japan in particular need #StrongDollar as their stock markets aren’t working unless their FX weakens) – can Draghi break the Euro down to $1.05 vs USD in March? Doubt it."
That's why European markets are up today. The Euro is weakening.
here's a look at Italian stocks...
and Germany's DAX...
For the record, the DAX has tumbled -25% from it's 2015 high.
the central planning gong show continues...
