The CAC 40 is trading modestly higher this morning (+0.31%), as the ECB elected to hold key interest rates flat at an effective 0.00%. Top CAC 40 gainers for Thursday’s trading session include Technip +3.63%, Societe Generale +1.78%, and Sanofi +1.53%. The largest losers include Publicis Groupe -5.45% and ArcelorMittal trading down -1.58% so far on the day. Technically the CAC 40 remains trading above 4,500. However, with today’s price advance, the Index is now trading above the September ...
Daily -Focus remains towards an estimated channel top above 99.00 although I’d be aware of horizontal levels at 98.33/58 as near term roadblocks (NOW). These horizontal levels are defined by the August 2015 and March 2016 highs. There is one interesting tidbit worth mentioning regarding the EUR/USD and DXY relationship. Non-confirmations between these 2 markets (EUR/USD accounts for 57% of DXY) warn of ‘traps’ or false breakouts and non-confirmation ...
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