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Takeaway: Europe needs a strong dollar to prop up their stock markets.

INSTANT INSIGHT | Central Planning, Currency Wars, & European Stocks - draghi devalue

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...

INSTANT INSIGHT | Central Planning, Currency Wars, & European Stocks - Currency wars cartoon 08.12.2015