BofAML: Euro Bears Should Be Salivating

"The new year should be very exciting for EURUSD bears," BofAML's Macneil Curry explains. Historically, January is the worst month of the year for the currency pair. Since 1971 (interpolated data pre-1999) it has averaged a return of -1.27% (excluding carry) and fallen 62% of the time. With EURUSD having just confirmed a top and bearish turn in trend, this January should be no exception to the historical norm. EURUSD bears should be salivating for the start of the new year.

Source: BofAML

Comments

[Black Forest]

Fuck EURUSD.

[Rainman]

Historically, the central banks have never churned out this much new fiat. Burn all historical return charts.

[AccreditedEYE]

If it's on these pages, it's widely known. More fodder to feed the Hedge Fund food stock, eh? And, BofAML has just been hitting it out of the park all year, right?

[fiddler_on_the_roof]

I like EURUSD here. go long I say, and do inverse of what ZH is preaching..

[whatsinaname]

Its not ZH preaching.

[falak pema]

The rumblings from China get Ominous : 

Patrick Chovanec On The Spike In Chinese Interbank Rates - Business Insider

• The interbank lending market is "a petri dish of risk," and China's financial system has become fragile and tangled up.
• The investment led growth model has made it so it's almost like the PBoC has ceded control of monetary policy to the shadow banks.
• The People's Bank of China is faced with a difficult choice, accommodate the banks or risk them going bust.
• The rise in Chinese money market rates, not the Fed taper, is the biggest financial story of the holiday season.

The MSM confirms the ZH post earlier today. If the PBOC QEs as high as ZH has posted this is going head to head in the race to bottom with the ECB and FED.

GWB : This suckers is going to take us all down...2008 vintage.

[Rainman]

+1

" In China, every province is a Greece ."   .....Larry Lang

http://beforeitsnews.com/alternative/2013/03/china-is-bankrupt-in-china-every-province-is-a-greece-and-the-elite-are-jumping-ship-2604692.html

[chump666]

haha with the DXY 80 at and USD sells galore sans the Fed holding 80.

But yes the EUR is overbought

[jmcadg]

Is this effectively a Stolper play?

[Yen Cross]

    That call is about is about as helpfull as a rubber beak on a Woodpecker. I wouldn't touch the ponzi eur with a 10 foot barge pole.

[FieldingMellish]

What's the point of Wall Street recommendations again?