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Forex Momentum Waning - February 22, 2015

Forex Momentum Waning - February 22, 2015

5 Years ago | February 22, 2015 00:00:00

USD Levels Out
We had figured the aggressive ECB QE program would fuel another upside swing in the USD, but falling oil prices raised raised questions about the sustainability of rising stock prices. In recent years, the USD has been positively correlated with stock prices. However, that relationship has broken down. One concern has become the adverse impact on the energy producing sector of the economy of lower oil prices. Earlier, markets felt that lower energy prices would be a stimulus to the consumer. Markets have now paused as they try to sort this all out. Major currency pairs are now in trading ranges EURUSD (1.1300 to 1.1500; 20-day average 1.1355) an

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