In the wake of the collapsing euro (top chart), nosotros run across a potential upside breakout inwards the cost of crude denominated inwards euros (bottom chart; USO/FXE).
Rising crude prices for euroland would contribute an additional headwind to economical growth. I give away that European stocks (VGK) convey bounced exclusively modestly this by calendar week later hitting multimonth lows. Year-to-date, the S&P 500 Index (SPY) is downwards less than 1%, only VGK is downwards most 6%.
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