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Forex Flash: Dow makes new high - Societe Generale
Kit Juckes of Societe Generale notes that the Dow made a new high, the day before the fourth anniversary of the S&P hitting 666, and all talk overnight has been of the recent equity rally.
he notes that the dollar has fallen less on the back of positive risk sentiment than might have been expected, but USD/JPY and EUR/USD are firmly in their ranges. He writes, “Today’s economic calendar is fairly light, with the ADP survey and Beige Book due in the US. 5yr supply Germany, and rate-setting meeting Canada (exp no change) make up the rest of the day’s thrills. Good ADP data are probably the catalyst for the risk rally to continue for another day.”
