Is the Euro Driving the S&P500?

By Global Macro Monitor

In case you have noticed recently the Euro and S&P500 seem to be moving together almost tick for tick. Here are the daily moves in futures over the past month. Makes you think they’re both dancing to the same tune by the Algorithmics, no?

P.S. It doesn’t look like the first day of the Euro “summit to end all summits” went well. Let’s hope the Euros get it together or we’re all gonna be in a world of hurt.

2 Comments
  1. Amazed says

    Wow, amazing! you found a correlation in the last days that has not existed at all in the last 10 years! EURUSD has never correlated to SP500. You have found the holy grail!

  2. Josh says

    This isn’t really that new. You can make fun of Yahoo’s finance video/blog but they have been talking about this for a while.

    http://finance.yahoo.com/blogs/breakout/dollar-strength-killing-stocks-commodities-170451410.html

    Or even since July.

    http://finance.yahoo.com/blogs/breakout/dollar-decline-propping-stocks-155433396.html

    ZeroHedge has been talking about this for a while as well. Not sure what the sarcasm in the first comment is supposed to indicate.

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