Daily Morning Call
From the Floor: Euro stays strong; WTI in 2-year record – #SaxoStrats
299 views
The Thanksgiving holiday may be over but the US dollar has little to be thankful for – it's still struggling against the euro and the yen and is likely to point lower still. But oil is doing well and WTI crude has hit a two-year record.
- Yesterday saw a bit of an extension to stronger euro theme
- Our underlying assumption is EURUSD higher
- Unclear what's happening in Brexit – UK has a bill offer deadline today
- Pipeline outage supporting WTI ahead of Opec meeting
- Opec optimism is providing underlying support – but little room for error
- Gold supported by dovish FOMC but still struggling to break resistance