JP Morgan says last week was reinforcement of bullish stance

A bit of a rehash from a JP Morgna note on Monday, reiterating bullishness, citing recent economic data, earnings reports, the prospect of a more accommodating Federal Reserve.

• upside appears to be more muted than when we adopted this stance earlier this year
• but there remains material upside

JPM note risks:

• Japan’s inflation data
• geopolitical developments that can impact oil prices
• US election
• Federal Reserve commentary changes
• weak seasonality

This article was written by Eamonn Sheridan at www.forexlive.com.