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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (19233)	5/16/2017 11:52:49 AM
From: John Pitera	Respond to of 33421

Hi Bob..... yes the EUR/ USD and the CHF/USD were both exceptionally strong overnight. I think that the German election results and what that means for next years elections really turbo charged the EUR... the swiss and currencies generally ( the flight to safety Yen saw some selling) The Eurozone1. An important state election in Germany resulted in a surprise victory for Angela Merkel’s party (CDU). Source: Deutsche Welle; Read full article Here are the exit polls. Source: @EuropeElects The betting markets’ odds of Angela Merkel winning the 2017 elections soared . The combination of the election results and higher commodity prices sent the DAX Index to a new record. 2. The euro also moved higher on the news from Germany (as well as in response to softer data in the US). Goldman points out that there is more upside to the euro once the capital outflows (which started with the ECB’s QE) are reversed. Source: Goldman Sachs, @joshdigga 3. Support for right-wing populist parties in the euro area seems to be waning. Source: Goldman Sachs, @joshdigga 4. Portugal’s GDP growth surprised to the upside. 5. On the other hand, Greece officially slipped into a recession starting this year. This is the nation’s fifth recession in the past decade. 6. Danske Bank argues that the ECB’s forecast for the currency bloc’s wage growth is once again too optimistic. Source: Danske Bank, @joshdigga ------------------------------------- The United Kingdom1. The FTSE 100 Index hit another record on firmer commodity prices. 2. How much of a drag will the weakness in retail sales have on the GDP growth? Source: Danske Bank, @joshdigga 3. Here is the Brexit age gap. Source: @GoodwinMJ, @joshdigga Back to Index Europe1. Elsewhere in Europe, Swiss inflation has unexpectedly turned lower again. Is the country at risk of entering another deflationary cycle, given how overvalued the Swiss franc has been (see #3 here)? 2. On the other hand, Poland’s inflation continues to advance, sending the zloty to the highest level since 2015 (against the euro). the EURO strength...

To: robert b furman who wrote (19233)	5/17/2017 1:16:35 AM
From: John Pitera	Read Replies (3) \| Respond to of 33421

Hi Bob.... crazy days huh.......... I sold all my long EUR positions in the past 1/2 hour and loaded up on EUR/USD short at 1.1123 My work has the EUR hitting a 50% retracement of a fractal move of of the april 2016 high, I have a Blue up arrow near that...we are also at the 1.382% Arc from one the internal moves that I located and the price also hit the .618 retracement fan from the Jan 3rd Low..... I have a stop at 1.1155 and all the positions have to be monitored to see how the markets are trading come the morning....... John