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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