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EUR/USD and S&P 500 Correlation Report May 13



Good day forex traders and readers.

Welcome to another correlation report of the EUR/USD and S&P 500.

We last did this some time back and I feel it is time for a new update in view of the recent market developments. Without further delays let us take a closer look at the EUR/USD and S&P 500 chart.

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Looking at the recent 6 months EUR/USD and S&P 500 chart, we observe a loose correlation until around Feb 2013. From the point onwards, the S&P500 continued on a gradual ascent while the EUR/USD currency pair slips lower.

This in line with the current fundamental situation.

While the US continues to recover from the financial crisis of 2008, with recent unemployment rates hitting a record low, the Euro Zone continues to suffer from the budget deficit crisis and the resulting austerity cuts. Additional monetary easing measures including the recent interest rate cut by the European Central Bank ECB, inevitably weakens the value of the euro currency.

In the near to medium term, I will expect the correlation to be shaky at best.

Trade safely.

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