| Videos | Channels | Search |
Hardy: Euro is too strong at the moment
"I’m convinced that the Euro is too strong at the moment". So says Saxo Bank's John Hardy, and adds he is "entirely unsure as to the timing of a possible eventual turnaround for the single currency".
He says a number of factors have fed into the euro strength; the fact that the ECB’s balance sheet has been shrinking while the Fed’s is expanding, and the recent political debacle in the US that has "everyone expecting the US is never going to taper".
The Fed meets this week, and John says that if it manages to "surprise on the dovish side", this could lead to "another burst higher in euro dollar - testing the 1.40 area".
And when it comes to the ECB meeting next week, he believes "it is a bit more likely that we see something this time around" but that markets are currently complacent as "nothing happened" during the last two meetings.
Read more about John hardy's predictions here:
http://www.tradingfloor.com/posts/fomc-market-fears-taper-fade-1219033365
01:46 minutes
Tags: balance sheet, cross currencies, currencies, currency, dollar, dovish, ecb, ecb balance sheet, economic data, ecp president draghi, eur, eur usd, euro, euro dollar, euro zone, europe, european central bank, european economy, eurozone, forex, fx, fx markets, hawkish, saxo bank, saxo tv, taper, tapering, trader, trading, trading fx, tradingfloor.com, us economy, usd, video