Multi Currency Speculation Begins:
The market has become more stable with less volatility and the need for the USD as a safe haven currency has receded. Commentators have begun focusing on fundamentals which are pretty bleak for the USD.
Bank Credit Analysis expect the EUR/USD to test 145 and even perhaps 155/165. Jyske Bank and MS have a 12 month target of 145.
Continued Positive Multi Currency Trend.
Markets keep improving and there is a pick up in activity that will create a demand for commodities and the commodity currencies. We suggest the following commodity currency plays:
USD/CAD 12 months target according to MS & BCA is 1.10
This was the first speculation suggested since my warning sent on August 17, 2007 that said: “Such historical measures are so inexact that we cannot predict just from them what will happen in the short term. The numbers are close enough that we could be entering the fourth sub cycle down (similar to 1976 to 1978). If so expect a sustained drop in markets for two to three years.”
See this warning at http://www.garyascott.com/2007/08/17/1818.html
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