What would happen if some of the main beneficiaries of the ECB policy were countries in Eastern Europe? This idea is not so far-fetched if we consider that banks and companies could use the cash to invest in European Union countries, but not in the Monetary Union, with labour costs and lower taxes. If we look at the changes, one of those who has had one of the most significant movement from the technical point of view since last Thursday is EURPLN. The top graph shows on the top EURPLN on reverse scale, where we can see that a head and shoulder figure has already been formalized and it seems to nominate the Zloty to a strength scenario in the medium term. But EURPLN also has the advantage that it tends to anticipate the movement of the stock market in Eastern Europe (the lower graph is in fact the MSCI Eastern Europe). If the next sessions will confirm the bullish view for the Polish currency, a regional overweight on Eastern Europe could be a good asset allocation idea.
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GBP/USD turns south toward 1.2500, US data eyed
GBP/USD is consolidating the rebound above 1.2500 in European trading on Thursday. The pair struggles, despite the US Dollar weakness on dovish Fed signals. A mixed market mood caps the GBP/USD upside ahead of mid-tier US data.
Gold price pulls back as market sentiment improves
The Gold price is trading in the $2,310s on Thursday after retracing about three-tenths of a percent on reduced safe-haven demand. Market sentiment is overall positive as Asian stocks on balance closed higher and Oil prices hover at seven-week lows.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
Happy Apple day
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