Europe FX
The financial markets are seeking a floor after collapsing on Thursday amid the deteriorating economies of the US, Eurozone and even China. There is no medium-term or long-term relief, and the risk of deflation is rising. But in the short term, a mild bounce is possible.
The European and commodity currencies remain weak after collapsing the day before due to weak regional data. The yen is also on the ropes after sliding to a two-month low. The Asian stock indexes plunged in line with the US markets.
The short-term outlook for the foreign currencies is sideways. The medium-term outlook for most of the foreign currencies is bearish. The LGR short-term model is short on all the foreign currencies. Good luck!
— CMEGroup
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