Euro Near a 2-Year High...Is It Time to Sell?

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Oct. 29 (Bloomberg) -- On today's "Insight & Action," Adam Johnson looks at whether or not it's time to sell the euro on Bloomberg Television's "Street Smart." (Source: Bloomberg)

Year high.

Time to sell?

Time for insight and action?

The team at citigroup pose the question in the morning note.

There is the chart of the euro.

At a one-week high.

The team at citigroup saying this is time to sell.

A bold call ahead of the ecb meeting next week.

They provide to charts that back up, exactly why you should sell the euro right now.

This really caught my attention.

The european data is weakening.

The yellow line is the economic surprise index comparing europe with the u.s. and it is downward sloping.

The city poses the question, how can you have a year of -- euro go up if european data is going down cap go chart number one.

Chart number two, effectively do the same thing, comparing a euro to the banks.

Banks have just started to tear down.

The argument is because european banks are deleveraging, that means the ecb has to keep doing what the fed is doing, printing euros.

That is an issue.

You cannot have banking going down and euro going up.

In order for that to justify, you have to have a strong banking sector.

Citigroup says not strong enough yet.

Citigroup not alone.

Wells fargo making similar comments, sell the euro ahead of the meeting next week.

This text has been automatically generated. It may not be 100% accurate.


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