RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

As currencies continue to be devalued through worldwide aggressive stimulus packages and coronavirus cases continue to shutter world economies, the Euro is no exception. Jobless claims throughout Europe continue to look dismal pertaining to Europe’s economic outlook as well, leaving the Euro dropping from near-annual highs. Some may argue that the currency was due for a pullback due to its aggressive spike in recent weeks from optimism rising, however underlying economic outlooks of Europe continue to remain the same, which is overall negative. Technical analysis further shows weakness in the Euro, as prices seem to be declining at an increasing rate across monthly levels. For these reasons, the Euro seems prone to a sharp selloff in the coming days.

Euro FX Sep ’20 Daily Chart
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Steve Sylas

Market Stategist
Steve has been passionate about and following the financial markets for 10 years. He attended the University of Indianapolis where he studied financial economics and began following the markets more diligently on a daily basis. He began his career brokering freight and trading his personal account and developed a reputation in the retail trading community for solid rules-based trading and unique market perspective. He is now focused on bringing that perspective to clients at RJO Futures.
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