Lots of jargon regarding euro-crude correlation, seasonal trends, investor despondency etc.
Although I cringe at the idea of ignoring the mountains of oil and gas debt coming due in 2017 and beyond, I am somewhat open to the idea of a Jedi light-saber strike to the faces of oil shorts might be a likely scenario.
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This was all technical analysis. I prefer to see some accompanying macro trends before getting excited. What would be the catalyst for a rising euro? What happens to dollar strength when Yellen (one of my old b-school profs) is forced by a cyclically weakening US economy to slow down the rate hikes? I’m not convinced.
So you are wondering what the catalyst would be for a rising Euro, but then also wonder what happens to dollar strength if the rate hikes slow down.
Hint: you answered your own question.
Rate hikes are supposedly “gradual” as it is; they are already “slowed down”. And no coincidence that this clown talks oil-euro on the second day of a rally in WTI? He’s got nothing else to say three days before Christmas and has to get eyeballs somehow… Producers are pumping and demand looks tepid at best – and are you buying euros??
Long of camel piss in yen terms.
Never thought I’d see the day on IBC that Cramer was touted as an oracle.