FX markets are slow, despite another leg higher on stocks yesterday, but we can see some volatility early today with upcoming PMI data from UK and EU, and then also US PMI from US. From Elliott Wave perspective we saw some nice recovery yesterday on USD index, ideally for a final leg up within wave C of a corrective advance so resistance may not be far away. Ideally, higher stocks will force USD to come down with US yeilds. In such case even weak commodity currencies will wake up.
Grega
Stocks Break Higher, Dollar Yet to Retreat
