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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 680.28-0.5%4:00 PM EST
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To: avanti77 who wrote (48168)4/26/2000 9:44:00 AM
From: pater tenebrarum  Read Replies (1) of 99985
 
Donna, that's hard to say in view of the Euro just having hit a new low. however, i think fundamentally it is probably about 15-20% undervalued here. were it not for the gigantic carry trade it would never have gotten to the point where it is now.
eventually the effects of the giant trade imbalance will be felt in the currency markets, and i think a low for the Euro is probably not too far off. we'll see what the ECB has to say tomorrow. it's always possible that they switch from 'benign neglect' to activism.

regards,

hb
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