The start of the year was positively influenced by the European dominated market sentiment while these shifted more towards a US Dollar dominated flow with FED Tapering having to end the month for a sustainable rally.
With the US Dollar index registering a full length recovery near its level of objective towards the 81.50 basis point.Correspondingly, the decline for the European majors have continued its secondary correction phase with wider swing declines as reflected with the Euro and Cable prices reaching a 1.3484 and 1.6415 low respectively. We did mention last Jan 07 on Cable, that this is part of their cyclical start of the year decline as a struggle between proper market positioning amongst commercials and institutional have been in the making. With barely a small portion of which would be accredited to speculators with variying degree of exisiting contracts.Click to continue.
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