Here a run through from CS of the global asset markets.
Here last weeks global macro chart pack from them which is a useful quick ref report i find:
Here this week’s latest report on the same format:
And here the usual CS weekly FX tech report, below. A good global view this and standing at odds to the UBS view. I.E. they remain long usd, long gbp, short euro.
The GBP is really fascinating at present. Inflation is relatively stronger in the uk than elsewhere and the BOE’s target of 7% unemployment is now within 60 basis points. The inflation report is starting to take a more hawkish stance on rates and removal of stimulus. Or at least that’s how the market is starting to read things in the UK. Given the euro zone appears to be moving more in the opposite direction sterling could have upside indeed. Technically the cyclical bear vs sterling for the euro could get one more down draft. This wave could result in a lower low and that would be a superb result for those who have stuck to the long sterling position. I no longer like sterling as I don’t believe Carney will raise interest rates and or stop QE. If an exist can be found on more strength this would be a superb ending to the long sterling and long uk equity trade. The next 6 months is critical to find the exist from the gbp in my view. Pre the market calling Carney’s bluff.
Here their global macro strat inc bearish eurusd looking for 1.30.
All the best
Rich