| EURUSD falls to lows for the week, but holds above triple bottom |
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The world of foreign exchange is multi-variate so you never get a full grasp on what’s moving a currency on any given day.
Economics always overshadows politics and the US election has been playing out in the background for months. There are certainly election trades in equities and other pockets of markets but big macro trades have been tough to handicap, particularly because of the high probability of a divided congress.
Even last week as we entered the final countdown to the election, the signals were skewed because of a wave of top-tier economic data released alongside the final polls. Over a longer period of time, Treasury yields and the dollar have been rising but that’s mostly been due to better economic data
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