Theme of Sell Euro Commodity Crosses to Continue as Risks Struck Back Just as risk aversion seemed to be back as the main driving force in the markets, US equities staged a strong rebound on Friday on JPMorgan Chase's earning report. The tide was suddenly turned as dollar turned negative against Yen, Sterling, Canadian and Aussie. Sterling was particularly impressive on safe haven flow from Eurozone and was given a strong boost from strength in financial stocks. Meanwhile, Euro continued to be the weakest currency together with Swiss Franc on the never ending debt crisis. Indeed, Euro's selloff against commodity currencies have intensified after ECB cut deposit rate to zero. Judging from the price actions on Friday, US equities will likely regain strength in near term. Aussie should gain most from risk appetite and be followed by Canadian dollar and sterling. Dollar and yen will probably turn mixed despite last week's rally attempt. Euro could recover a bit against dollar and yen but strength should continue to be weak. Selling EUR/AUD, EUR/CAD and to a slightly lesser extent EUR/GBP will continue to be the better near term strategy as price actions could be quite mixed elsewhere. Full Report Here... | 
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