Weekly Multi Market Technical Analysis Update – “Euro A Viable Funding Currency” 22nd May14

I’m still playing catch up here but the quick view from yesterday on the forum “markets” pages wasn’t a bad summary, for those that caught that.

Here the swiss team’s latest report:

wklytech-20-5-14

Here an excellent chart pack from cs

cs-techcharts-17-5-14

Here GS

GS-mmwkly-17-5-14

Here MS FX

MS-FXwkly-16-5-14

“We believe the stage is set for EUR to finally emerge as a viable funding currency.”

If MS are correct then kiss good bye to the inverse correlation between the US$ and commodities. If the EURO is on the cusp of becoming a global funding currency this has significant trading cross asset implications!

Here Cs on the commodities

cs-commodities-17-5-14

Note oil over 103.5 and the oil sector breakout which preceded the underlying asset’s strength. The aud is still a cloud over the commodities, for now.

Here CS wealth.

CS-mmwkly-16-5-14

And with a latest update..

cs-mmwealth-21-5-14

And here DB on the latest CFTC data. Note the oil longs are significant, and relentless in their accumulation.

db-cftc-20-5-14

Much much more to come inc AG tomorrow.

It is already another bank holiday in the UK on Monday. We have half of London coming to stay with us in Ibiza.

All the best

Rich