German Recession: Time to buy the euro?

burning euro.jpg

No; that wasn’t a mistake.  We meant it could be time to buy the euro.  Say what?  This view is predicated on two rationales (or made the word “conjectures” fits better):

1.    Technical – Elliott Wave chart below; and

2.    Fundamental – A growth surprise as Germany and the rest of Europe begin to follow Mr. Draghi’s advice and start spending; i.e. an opening up of the fiscal floodgates.

Today’s ugly PMI data from Germany confirms current account surplus countries are generally hit harder during global economic slowdown….READ MORE

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