Instead of recanting the otherwise already widely disseminated fundamental factors, a couple of fresh data points;
- Central & Eastern European housing market in collapse; YoY -28% decline in residential prices;
- The nagging (constantly revisited) issue of Russian exports of enriched uranium (fuel rods) to the EU (and the US) will now likely be "officially" voted on - whether to include them in the next sanction package. This constitutes <3% of Russian energy sales YET, it effects >35% of the EU's energy generation; (This would be the final, self inflicted blow to energy starved EU - especially for France.) As its been the tendency lately, the EU parliament rushes to pass one stupid, self-defeating act after an other. (Observe all the clowns in the current EU parliament.) In short, as stupid and self-defeatists as this idea was, from the word "Go", inline with the current, popular, parliamentary suicide wave, this may actually come to pass - gets included in the next sanction package.
- The war in Ukraine is not going well - to put it mildly. (In major Ukrainian cities police and militia is nabbing 16 year olds off the streets, shipping them off to basic training camps. Much like during the final days of the 3rd Reich.) As it happens, the US has the tendency to cut lose the dead weight, in this case, dump this whole Pandora's Box on the EU's lap. [Not to mention that the US already has pretty much milked this whole situation close to it's maximum potential benefit. Even more reason to call it a day.)
- Many more recent developments [just tired of writing them all down, having focused here on the couple of the more recent, relevant factors) which all point to one and the same direction.
Most importantly, the EURUSD technicals point in one direction - and one direction only !-, as clearly as it could be imagined.
- Central & Eastern European housing market in collapse; YoY -28% decline in residential prices;
- The nagging (constantly revisited) issue of Russian exports of enriched uranium (fuel rods) to the EU (and the US) will now likely be "officially" voted on - whether to include them in the next sanction package. This constitutes <3% of Russian energy sales YET, it effects >35% of the EU's energy generation; (This would be the final, self inflicted blow to energy starved EU - especially for France.) As its been the tendency lately, the EU parliament rushes to pass one stupid, self-defeating act after an other. (Observe all the clowns in the current EU parliament.) In short, as stupid and self-defeatists as this idea was, from the word "Go", inline with the current, popular, parliamentary suicide wave, this may actually come to pass - gets included in the next sanction package.
- The war in Ukraine is not going well - to put it mildly. (In major Ukrainian cities police and militia is nabbing 16 year olds off the streets, shipping them off to basic training camps. Much like during the final days of the 3rd Reich.) As it happens, the US has the tendency to cut lose the dead weight, in this case, dump this whole Pandora's Box on the EU's lap. [Not to mention that the US already has pretty much milked this whole situation close to it's maximum potential benefit. Even more reason to call it a day.)
- Many more recent developments [just tired of writing them all down, having focused here on the couple of the more recent, relevant factors) which all point to one and the same direction.
Most importantly, the EURUSD technicals point in one direction - and one direction only !-, as clearly as it could be imagined.
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