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Better risk tone is lifting sentiment – Societe Generale

FXStreet (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale, remarks the firmer tone from the risk-associated assets.

Key Quotes

"The global risk mood continues to improve, as it has pretty steadily since I sent out a piece entitled ‘Don't buy the dip' last Friday. So much for that then!".

"The fall from 1965 to 1930 in the S&P500 on July 31 kicked off the risk correction and the market has clawed its way back to 1946. Another 10 point rally from here, through the 50-day average, would have people talk of another new high being made soon”.

“I'm still not interested in chasing a mid-August rally but there isn't a lot on the horizon today to change the mood."

"Overnight news has seen confirmation of the death of Brazilian Presidential candidate Eduardo Campos, an extension to the ceasefire in Gaza/Israel, a standoff between Russia and the Ukraine over the aid convoy, a 25bp Korean rate cut and soft economic data in both Japan and Europe”.

“Ahead today, we really only have US jobless claims figures."

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