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Good day to all!
We start this day in a world with a stronger US Dollar.
EUR/USD took a dive and went as low as 1.4280+ before it recovered to the current levels.
S&P 500 looks a little choked currently too as it fights to soar towards 1140.
Oil in the meanwhile remains above $80, benefiting from the misfortune of the “frozen” folks in the US. Not an actual indication of a new phrase of recovery in my opinion unless this sustains beyond the cold winter.
Gold climbs slightly higher at around $1127+.
Now who turned off the light on EURO today?
Well we have the EURO Industrial New Orders coming in at -2.2%, definitely nothing to be positive about. Furthermore, the Greece problem grabbed the headlines again as there were talks of mounting problems and a NO BAIL OUT comment made by ECB’s Stark. Greece rejected the speculations of a bail out.
Lesson time! We have a strengthening of the US Dollar, we have some hesitation in the equities and throw in some negative news. What do we have?
Risk Aversion!!! Yup. This old friend of ours may have surfaced to stake some claim after being out of the scene for sometime now. However i doubt it is strong at the moment since Greece did follow up with a “positive” comment. Monitor the equities and currencies movement to track our friend ya?
US ISM Non-Manufacturing PMI just came in slightly lower than expected. We may have some disappointment sell off of the US Dollar here.
Next up we have FOMC Meeting Minutes and we know that folks will be reading, scanning, magnifying, ignoring and over reacting to the statements made. Be careful of spikes.
We have another round of US Unemployment claims tomorrow and Margin Call Friday draws nearer.
Bullish comeback may test 1.4400/45 while bearish forces may target 1.4325 and 1.4260.
I was thinking if the economic calender and currencies quotes are useful to you my koala reader. Am also thinking of how i can make this place a better tree for you.. give me some opinions alright? Perhaps more financial data? A very good koala reader / friend of mine suggested it. I think it sounds cool!!
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