Uncertainty in Greece, strength in Germany

The euro weakens as Europe continues to provide their own version of quantitative easing. However, many do not factor in the second chart below, which illustrates Germany breaking out to all-time highs. In addition, the Dax index has a market capitalization greater than a trillion dollars. We believe these factors are indicative of the stronger economies in Europe.  

Euro vs. USD

 

(Source: Bloomberg, 02.11.2015)

 

Dax Index (Germany)

 

(Source: Bloomberg, 02.11.2015)