A week of rowing through the rapids
I hope you all made it safe to the end of this week. The equity market finally found buyers right on the verge of what could have been a cliff. Maybe there were some strong hands
finally deciding it had to remain a correction …
Currency wise the wild river took some victims, GBP gave back all of it’s BOE gains and more as the EU casts a shadow over a smooth Brexit.
NOK lost a fair amount of ground on a weak CPI . These two fell out of the boat …
JPY and CHf were on their way to book big gains but the rallying equity markets changed the picture in the last hours of the week.
CAD fooled the sellers on a bad headline employment report but the rotation from part- into full time jobs and the better wages put Cad back into the saddle.
Finally the commodity currencies made a decent recovery at the end of the day.
ZAR was the big winner as Puma is getting closer to his exit by the day. CNH crawled back all of its gains vs USD too.
EURO? Well still not moving much but rowing hard, hard enough in my view to hold.
I hope you had a good week in our company and now time for a well deserved weekend.
Recharge the batteries as next week it’s rock n roll again. Regardless which way the markets turn, we know it’s going to be some ride again.