EQUITIES TO PEAK IN JANUARY

摘要

Currencies: The Dollar Index and, inversely, the euro, Swiss franc and British pound, are ripe for a reversal. The commercial traders have successfully laid off long positions accumulated since early 2014 and appear to be laying on new short positions rather than repositioning themselves on the long side. Commercial traders positioned themselves correctly ahead of Mario Draghi and the ECB's surprisingly hawkish monetary plan. This indicates that the spread between U.S. and ECB interest rates won't be as wide as predicted and should tighten.