BREAKING! United States Outlook Revised to Negative From Stable by Fitch.
The most depressing (and fascinating) GDP table ever!
- Years of growth destroyed in just three months! The #Covid19 #recession has pushed the size of #GDP down to multi-year lows.
- Oops! Dollar bears ramped up their Euro long positions.
Net euro longs hit a fresh record high at 157,559 contracts this week. Based on historical experience, the euro should stand at $1.25.