Emerging Money Daily Audio Call March 9 – On the eve of the ECB markets trade higher with oil and alleviated credit and banking concerns. We preview the ECB and give you a traders guide to the release.
Markets under control despite resounding OXI from Greece yesterday. As we noted last night the price action is about testing the levels form last week and overall key levels for the indices and macro.
The euro is finding a toe hole on speculation that the new Greece government may soften its stance and work with international creditors.
The mix of the Fed commentary yesterday with dovish RBA comments are sending the Aussie Dollar to fresh multi-year lows and a view of the 10yr support. The ultimate commodity currency must address the realities of weaker policy and embrace what the market is doing for it.
I wanted to give a quick Friday morning update on the currency/commodities markets as we head into the weekend.
Closing our Aussie short a few weeks ago has proven correct.
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