The Big Picture 11th February

The dollar has regained most of the losses it made late December and earlier January. The fundamentals do not look good for the Euro-zone with the German powerhouse stalling and other countries heading for technical recessions. With the interest rate at zero, there is little in the way of stimulus open to the ECB.

In spite of the Brexit woes facing the UK, the pound has held up better at times although the lack of an agreement has taken the shine away. At one stage it looked almost certain that Parliament would not allow a no-deal Brexit but now it is becoming more likely to occur by default.

The Canadian Dollar has softened even though the fundamentals are quite good. Providing oil holds up any weakness from the US may give the CAD a boost.

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