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14 Aug 2014
Better risk tone is lifting sentiment – Societe Generale
FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, remarks the firmer tone from the risk-associated assets.
Key Quotes
"The global risk mood continues to improve, as it has pretty steadily since I sent out a piece entitled ‘Don't buy the dip' last Friday. So much for that then!".
"The fall from 1965 to 1930 in the S&P500 on July 31 kicked off the risk correction and the market has clawed its way back to 1946. Another 10 point rally from here, through the 50-day average, would have people talk of another new high being made soon”.
“I'm still not interested in chasing a mid-August rally but there isn't a lot on the horizon today to change the mood."
"Overnight news has seen confirmation of the death of Brazilian Presidential candidate Eduardo Campos, an extension to the ceasefire in Gaza/Israel, a standoff between Russia and the Ukraine over the aid convoy, a 25bp Korean rate cut and soft economic data in both Japan and Europe”.
“Ahead today, we really only have US jobless claims figures."
Key Quotes
"The global risk mood continues to improve, as it has pretty steadily since I sent out a piece entitled ‘Don't buy the dip' last Friday. So much for that then!".
"The fall from 1965 to 1930 in the S&P500 on July 31 kicked off the risk correction and the market has clawed its way back to 1946. Another 10 point rally from here, through the 50-day average, would have people talk of another new high being made soon”.
“I'm still not interested in chasing a mid-August rally but there isn't a lot on the horizon today to change the mood."
"Overnight news has seen confirmation of the death of Brazilian Presidential candidate Eduardo Campos, an extension to the ceasefire in Gaza/Israel, a standoff between Russia and the Ukraine over the aid convoy, a 25bp Korean rate cut and soft economic data in both Japan and Europe”.
“Ahead today, we really only have US jobless claims figures."