Good Thursday to all.
Thank god it is Friday tomorrow!
I am so drained from my work. I rather stare at a screen of candles in green and red!
The EUR/USD took a beating today and currently rests on the 1.4325 area. A mixture of poor EURO releases and risk aversion in my opinion caused the dip.
S&P 500 suffers from depression at the moment too.
Oil remains above $80 in view of demand in the cold winter.
Gold is currently at $1130+ after having a bullish run.
While we had a few poor EURO releases today, i am speculating that risk aversion may also have a hand in this current market down beat.
Greece’s problems will not go away be itself and something needs to be done.
On the US side, Bloomberg reported that the Federal Reserve said in the minutes of its latest meeting that the U.S. economic recovery might require additional stimulus measures to be sustained. This probably caused risk averse folks to jump out of their riskier trades. Furthermore, although the US Unemployment claims came in better than expected, we have to observe that it is still higher than the previous release. Tomorrow’s highlight of the week, Margin Call Friday US Non-Farm Payroll is something one wouldn’t want to mess around with.
Lastly, it has been reported that the ECB has begun to cut it’s balance sheet while the Feds are still increasing it.
Bullish pressure may have us climbing towards 1.4362 and 1.4400.
If the bears pursue, we may have 1.4260.
I am having a headache now. I need to make an appointment with Ms Sleep soon as we have been spending far too little time together. Arrgghh.
Oh, folks caught in the bad weather, do take good care ya?
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