econintersect.com
       
  

FREE NEWSLETTER: Econintersect sends a nightly newsletter highlighting news events of the day, and providing a summary of new articles posted on the website. Econintersect will not sell or pass your email address to others per our privacy policy. You can cancel this subscription at any time by selecting the unsubscribing link in the footer of each email.



posted on 23 July 2016

Forex: "The Markets Are Getting Exciting!"

from Elliott Wave International

Jim Martens, the editor of our Currency Pro Service, gives you a preview of what's going on in the FX world post-Brexit.

Watch this new interview to learn which markets Jim's keeping his eye on.

P.S. Below the video, look for details on instant, free access to Currency Pro Service forecasts now through July 22, as part of EWI's Forex Free Week. 

[Editor's Note: A text version of the interview is below.]

Alexandra Lienhard: I'm Alexandra Lienhard for ElliottWaveTV and today I'll be talking with Jim Martens, Elliott Wave International's Senior Currency Strategist.

But a brief editor's note before Jim joins me: Elliott Wave International is currently hosting its popular Forex FreeWeek. Be sure to check out the link below to get free forecasts for 11 popular FX pairs, now through July 22.

Now Jim, onto today's interview. We're living in a post-Brexit world. In your view, did forex markets change since the vote, or did Brexit not really have an effect on FX overall?

Jim Martens: Well, from my point of view, it made no difference, overall. We've spoken about this in the past: We expected the recovery in cable from May to prove corrective -- and it did. Markets started back down right after the result of the vote were announced. It was a sharp, almost historic decline. There was a lot of chatter about. But it was something that we were expecting all along. In our minds, it made no difference at all. The market was headed where the market was headed. Regardless of what news came out in the marketplace.

Alexandra: And in recent analysis, you've been stressing the British pound, the yen and the euro. Anything standout for you in those specific markets? Or as a group?

Jim: Well, they're all at interesting positions. I believe the dollar is resuming a broad-based advance relative to all its competitors. We look at cable, for instance, to start with. We'll see that it's gone nowhere in the last few weeks or so. We had that historic move after the vote and it's held its ground since, but I think that's just a pause in a larger downtrend. So again, it's no change in our thinking there. And when I look at something say, like euro/dollar, which is popular amongst traders, we look at the same sort of thing. It's been going nowhere, there's been a lot of volatility, which really stretches back more than a year now. We've been tracking it and calling the ups and downs of the market, but I think that's coming to an end, and there's going to be a substantial move ahead. It could be underway, and if it's not already, it's soon to start from nearby levels. The markets are getting quite exciting from this point on.

Alexandra: So let's broaden out. Looking bigger-picture, what are you watching? What are you keeping your eye on in the months and quarters ahead?

Jim: Well, one market where our view has changed has been dollar/yen. We've been looking for a bottom, yet the market has continued to decline. We failed to see evidence that the turn had occurred, and I like to wait before I change my view, or change my opinion of the market trend, until I see evidence that a change has occurred. But we may have finally seen that in the last few weeks. It has rallied sharply, so I put that back in the camp of dollar strength. If dollar/yen is advancing, that's dollar strengthening, that's the yen weakening. So it's falling into place in the rest of the picture, as I see it. And that is that the dollar is going to be strong going forward. That's going to be the story. You're bound to hear about that over the coming months. We'll hear about it on the equities side, that it's pressuring corporate earnings, and what are we going to do about that. But it's going to be a broad-based move relative to all of its competitors.

Alexandra: Well, FX has always been one of the more volatile asset classes out there. Thanks for chatting today, Jim.

Jim: My pleasure, Alex.

Alexandra: Now through July 22, you can get free access to our premium grade Currency Pro Service during Forex FreeWeek. Follow the link below to get free forecasts for 11 popular FX pairs.

Thanks for watching ElliottWaveTV.


Now through 5 p.m. Eastern time Friday, July 22, get FREE unrestricted, 24/7 access to intraday, daily, weekly and monthly forecasts -- including charts and videos from our premium-grade Currency Pro Service.

Currency Pro Service's team of currency experts brings you forecasts for 11 popular FX pairs: EURUSD, USDJPY, GBPUSD, U.S. Dollar and more.

Get Free, Instant Access

This article was syndicated by Elliott Wave International and was originally published under the headline Forex: "The Markets Are Getting Exciting!".

>>>>> Scroll down to view and make comments <<<<<<

Click here for Historical News Post Listing










Make a Comment

Econintersect wants your comments, data and opinion on the articles posted.  As the internet is a "war zone" of trolls, hackers and spammers - Econintersect must balance its defences against ease of commenting.  We have joined with Livefyre to manage our comment streams.

To comment, using Livefyre just click the "Sign In" button at the top-left corner of the comment box below. You can create a commenting account using your favorite social network such as Twitter, Facebook, Google+, LinkedIn or Open ID - or open a Livefyre account using your email address.



You can also comment using Facebook directly using he comment block below.





Econintersect Contributors


search_box

Print this page or create a PDF file of this page
Print Friendly and PDF


The growing use of ad blocking software is creating a shortfall in covering our fixed expenses. Please consider a donation to Econintersect to allow continuing output of quality and balanced financial and economic news and analysis.


Take a look at what is going on inside of Econintersect.com
Main Home
Analysis Blog
Wasteful Health Care Spending
Democratic Development Lowers the Cost of Credit
News Blog
February 27, 2017 Weather and Climate Report. Short-term Forecasting Not So Easy.
Explainer: What Is VX Nerve Agent And How Does It Work?
What's Important To The Online Shopper
How Liverpool's New Local Currency Fits Into Global Trends Of Money And Power
World's Largest B2C E-Commerce Markets
Average Gasoline Prices for Week Ending 27 February 2017 Rose Over One Cent
What We Read Today 27 February 2017
February 2017 Texas Manufacturing Survey Continues to Expand But Key Internals Declined
January 2017 Pending Home Sales Index Declines
PEOPLE ARE AWESOME 2017 Amazing Talented Kids Compilation
Durable Goods New Orders Improved in January 2017
China's Continuing Credit Boom
Infographic Of The Day: Ten Interview Questions That Make You Sound Dumb
Investing Blog
Market And Sector Analysis 26 February 2017
Trump's Address To Congress: A Preview For Investors
Opinion Blog
Brave New World: The Pill-popping, Social Media Obsessed Dystopia We Live In
What Do You Call A Lie Constructed From Other Lies?
Precious Metals Blog
Deflation And Gold: A Contrarian View
Live Markets
27Feb2017 Market Close: The Trump Bull Rally Lumbers On Despite Bearish Analysts Calls For Caution, US Dollar Settles Higher, WTI Crude End Session In The Low 54 Handle
Amazon Books & More






.... and keep up with economic news using our dynamic economic newspapers with the largest international coverage on the internet
Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government





























 navigate econintersect.com

Blogs

Analysis Blog
News Blog
Investing Blog
Opinion Blog
Precious Metals Blog
Markets Blog
Video of the Day
Weather

Newspapers

Asia / Pacific
Europe
Middle East / Africa
Americas
USA Government
     

RSS Feeds / Social Media

Combined Econintersect Feed
Google+
Facebook
Twitter
Digg

Free Newsletter

Marketplace - Books & More

Economic Forecast

Content Contribution

Contact

About

  Top Economics Site

Investing.com Contributor TalkMarkets Contributor Finance Blogs Free PageRank Checker Active Search Results Google+

This Web Page by Steven Hansen ---- Copyright 2010 - 2017 Econintersect LLC - all rights reserved