Divyang Shah, IFR Senior Strategist
Divyang's focus is in following broad macro trends globally with a view to building a tradable analytical framework. He was editor of the flagship products at IDEAglobal as well as head of FX research and then moved to Chief Strategist at Commonwealth Bank of Australia before joining IFR.
While we are approaching a crucial period with regards to Grexit/Grexident risks, markets remain optimistic that ECB QE will continue to limit contagion.
An escalation of tensions in Yemen has provided further fuel to a position trimming trend that had been showing early signs of stabilisation. The risk remains for the price action to feed into itself and shake out even more USD longs.
It’s almost the end of March and we are still talking about mini-summits and Eurogroup meetings as European policy makers attempt to reach a deal on Greece.