RJO FuturesCast

Daily Futures Market News, Commentary, & Insight

Euro prices are increasing at an exponential rate on the daily chart, signaling that it’s headed significantly higher, and there are several reasons to back this. The European Central Bank is soon to unroll an expansive stimulus package worth 750 billion euros. While this is seen to undoubtedly bolster the European economy, the fact that the stimulus package, compared to the United States’ several trillion dollar package and Japan’s trillion dollar package, it is far less expensive than other major countries’ packages, which will pay dividends into the near future as the Euro’s overall value will become stronger through less dilution. On top of this, the United States, the EU’s top trade partner amassing 615 billion euros in 2019, is beginning to open its economy once again, signaling increased trade between the two powerhouse economies. Between the EU’s expansive, but relatively modest stimulus package, increased economic activity, alongside a sound technical basis, euro futures seem highly likely to increase past 1.122. 

Euro Fx Jun ’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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