Goldman Says to Bet on Weaker U.S. Dollar After Powell Comments: The U.S. dollar may be poised to decline, according to Goldman Sachs Group Inc. Comments from Federal Reserve Chairman Jerome Powell on Friday boosted the chances that the central bank will pause interest-rate increases, strategists at Goldman wrote in a note Saturday. Powell cited the events of 2016, when rates were kept unchanged through most of the year due to concerns about slowing growth in China. The potential hold presents a chance for the greenback to drop. “Combined with net softer U.S. data for December, we think a more data-dependent Fed creates space for further dollar downside,” the strategists led by Zach Pandl wrote. “We are therefore recommending short DXY (or a basket with approximately these weights), with an initial target of 93.0 and stop of 97.5.” The DXY index hasn’t been below 93 -- Goldman’s target level -- since May, as the currency strengthened on the back of robust American economic data. The stop of 97.5 is the peak level it reached in November. The gauge ended Friday at 96.179, declining for a third consecutive week, as it failed to hold gains from the extremely strong monthly U.S. payrolls report. https://www.bloomberg.com/news/arti...ollar-after-powell-comments?srnd=premium-asia
I'm long Euro from 1.1465, looks to me like the tape is pretty benign here, even though today is down
Euro is sliding I assume its because of coming Draghi speech in Strasbourg let's see how it goes, hope he will be dovish.
Yeah, got stopped on that at 114.40, scratched a long Cad trade to reduce risk, would have worked out so far. Waiting for the next setup.
Long Aussie .7195 going with the idea we are still in an uptrend, that looks like its sold out. Cad the same to me.