Forex Flash: EUR/USD has tendency to fall in January over last 20y sample - Nomura
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EUR/USD
FXstreet.com (Barcelona) - Over the past 20 years, the S&P500 does seem to show a positive correlation in the first week of January and the rest of the year, says Saeed Amen, Nomra FX strategist. Furthermore, "the S&P500 tends to rally in the first few days of the year, although after that, price action is more mixed in our sample" he adds.
In EURUSD, "it is very difficult to read anything into how spot performs in the first week and during the rest of the year" the analyst notes. Mr. Amen notes though that EURUSD "has a tendency to fall in January, a behaviour which has been relatively consistent across the past decades in our sample."
In EURUSD, "it is very difficult to read anything into how spot performs in the first week and during the rest of the year" the analyst notes. Mr. Amen notes though that EURUSD "has a tendency to fall in January, a behaviour which has been relatively consistent across the past decades in our sample."
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