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