With markets starting to digest the U.S. stimulus package as well as Europe’s PEPP program, it may be time for these two major currencies to begin to recover against the ZAR.

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In early February, the Euro breached support which had confined its losses against the British Pound back to mid-May 2020, opening the door for a deep selloff that brought the EUR/GBP exchange rate…

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It was a bizarre beginning to a New Year for the US Dollar, but given 2020 I’m not sure how surprising it should be.

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A sustained reflation trade could place the Dow in a league of its own. If risk aversion takes root, valuation metrics in the Dow Jones are far more reasonable than elsewhere.

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