My first comment is that is pretty annoying to have to deal with Greece volatility this Sunday when I would rather bask in the US Woman’s World Cup win!! #USAUSAUSA…truly dominant performance.
So much for US recession, NFP in the US was well beyond consensus and puts into play where people were positioned even on rates after yesterday’s opening hours of pain but easing back by the end of the day.
Today’s headlines on Greece are NOT in the market’s volatility range or where equities should feel comfortable at this level.
The euro is finding a toe hole on speculation that the new Greece government may soften its stance and work with international creditors.
The European Central Bank (ECB) exceeded expectations (so rare in life) with their monthly 60 billion euro asset purchasing until Sept 2016 and an open ended loaded bazooka in their pocket.
The ECB, Gold and U.S. dollar – This morning the European Central Bank (ECB) surprised global markets by slashing key interest rates to a new record low of 0.05% from 0.15%.
Since the Fed many non G3 currencies have made higher lows against the Dollar. We think some weaker U.S. data today on housing along with better external data for many of the FX crosses we are watching means this trend can continue.
While China (FXI, quote) continues to disappoint and send a message to the global economy, Europe continues to show resilience and makes one wonder whether a sustained recovery isn’t in fact in place.
Wow what a roller coaster ride the last few days! From last week Friday to close today, U.S. markets fell off rails nearly 2.7% in 3 days and over 3.5% from the February 25th all-time high.
- Your first trade for Friday, August 18Source: Fast MoneyPublished on 2017-08-18
- Beijing 8th cheapest city in the world for cab fareSource: China.orgPublished on 2017-08-18
- Smart unmanned capsule hotel opens in ChongqingSource: China.orgPublished on 2017-08-18
- China moves to standardize recycling industrySource: China.orgPublished on 2017-08-18
- China audit finds poverty relief funds idleSource: China.orgPublished on 2017-08-18
- House reconstruction begins in quake-hit XinjiangSource: China.orgPublished on 2017-08-18
- Air routes adjusted to protect largest radio telescopeSource: China.orgPublished on 2017-08-18
- Death toll rises to 8 in deadly coal mine landslideSource: China.orgPublished on 2017-08-18
- China warns of geological disasters in some regionSource: China.orgPublished on 2017-08-18
- HK Occupy Central student leaders jailedSource: China.orgPublished on 2017-08-18
- Fighter lands safely after catching fireSource: China.orgPublished on 2017-08-18
- Xi calls on HK youths to serve HK, countrySource: Xi calls on HK youths to serve HK, countryPublished on 2017-06-30
- Your first trade for Friday, August 18