After last week's event-a-palooza, where the headlines, the spin, the erroneous HFT trading, and the propaganda (Draghi is too cold; Draghi is too hot; Draghi is just right) just refused to stop, we finally enter the summer proper where all of Europe is on vacation, as is congress. Add on top of this a very light macro event week and an earnings season which has seen the bulk of companies already report, and we expect the volume in the coming 5 days to be among the lowest recorded in 2012, and thus in the past decade.
Goldman's Thomas Stolper, who is about to finally tell his clients to close out of a stop lossed AUDJPY trade, summarizes what happened in the past week (nothing good) and what is happening next week (nothing good either). Week in R... Read Post
Goldman summarizes the key events in the coming week: After many weeks of sluggish FX response to the risky asset weakness, last week finally marked a change. The trade weighted USD strengthened markedly, mainly on the back of a mov... Read Post