Cromwell FX Market View Euro Reaches Parity Briefly

cromwell_weekly_200722-1536x822-1.png

This post was originally published on Trademakers

courtesy of trademakers

Last week saw the US Dollar squeeze higher. With the Euro briefly breaching parity talk turned to the Fed and a possible 100bps rate rise this month. Investors are still expecting just a 75bps this month which helped later in the week as the Euro rebounded and could lead to short covering.

Euro eventually gave up parity only to close the week at 1.0080. The ECB is expected to raise interest rates by 25bps this week but with Eurozone inflations above 8% a small rate rise will do little to temper inflation.

GBP was the worst performer despite UK economic data beating expectations. With no real leader for the UK government investor sentiment still remains poor and GBP struggled to find any level of support vs the US Dollar.

As stocks and other risk assets struggled commodity currencies followed suit. The commodity sell off is strengthen the US Dollar and that is being seen as both AUD and NZD performed poorly against the Dollar.

Oil prices continue to remain highly volatile. Last week the US released some reserves sending the price lower to close at 97.59 down 7% on the week . The BoC surprised with a 1% interest rate rise which helped the CAD despite falling oil prices

The week ahead should remain volatile. The Euro continues to flirt with parity and with the ECB meeting this week we could see it finally break and remain below parity.

Weekly Majors Market Performance

cromwell_weekly_200722

What is Cromwell FX?

Cromwell FX is a quantitative FX manager offering superior risk adjusted returns. The portfolio is the most liquid pairs . The strategy is fully automated and adhere to strict rick management procedures to control leverage and position limits.

The post

Cromwell FX Market View

Euro Reaches Parity Briefly

appeared first on JP Fund Services.

The post Cromwell FX Market View Euro Reaches Parity Briefly first appeared on trademakers.

Connect with SGT Markets

Follow us for the latest news & insights

Related Articles

tm_market_view_2024-1024x538-1.jpg

Currencies More Subdued (Apart from Yen)

tm_market_view_2024-1024x538.jpg

Currencies More Subdued (Apart from Yen)

tm_market_view_2024-1024x538-1.jpg

BoJ Intervenes to Shore Up Yen

tm_market_view_2024-1024x538.jpg

BoJ Intervenes to Shore Up Yen

jpfs_3D_Bull_Bear_featured-1024x536.jpg

Preserving and Accumulating Wealth in the S&P 500

tm_market_view_2024-1024x538.jpg

Yen Collapse; FOMC in Focus

tm_market_view_2024-1024x538-1.jpg

Yen Collapse; FOMC in Focus

jpfs_3D_Bull_Bear_featured-1024x536.jpg

3D Bull & Bear Monthly Update – March 2024

jpfs_3D_Bull_Bear_featured-1024x536.jpg

3D Bull & Bear Monthly Update – February 2024

jpfs_multi_diversified_featured-1024x536.jpg

Multi Diversified FX Portfolio Performance – March 2024

jpfs_growth_diversified_featured-1024x536.jpg

Growth Diversified Portfolio Performance – March 2024

tm_market_view_2024-1024x538-1.jpg

Inflationary Pressure Resurfaces