Economy…what’s this – a thaw in the European Union economic frost?
The economic data teeter-totter ride continues with the teeter-totter pushing the euro higher on surprising better than expected German industrial output data eases concerns over the euro zone’s largest economy.
European volume is starting to get to be at that silly low level again.
The U.S. dollar is slipping ahead of the Wednesday’s Federal Reserve policy meeting as traders look to the meeting for signs and clues on the direction the Federal Reserve will take with its momentary policy.
Last night’s macro in a word is terrible. China PMI and German manufacturing offer no relief for commodities and they are linked.
Either Europe is fine or there is massive deflation…
The EUR/USD jump during the Asian session above the 1.30 level on the news of a Cyprus bailout plan early Monday morning ahead of the European leaders’ deadline of Monday’s close of business.