US Markets adrift in neutral territory as the risk appetite cannot build on Fridays gains. GBPUSD losses +170 pts to $1.5030s on a combination of profit-taking and dovish comments from BoEs Kate Barker indicating a bumpy path to recovery while allowing for the possibility of further quantitative easing. S&P500 testing the trend line resistance from the Jan 11 high at 1140. GBPUSD hovers at the $1.5070s level indicated in the prior IMT, but any renewed selling in Asia could send cable back down to $1.4980. Watch out for UK Feb RIC housing figures at 0:01 (exp 35 from 32) and BRC retail sales. Euros failure was at $1.37 (lower than anticipated resistance of $1.3770) before retreating to $1.3630, now running the risk of calling $1.3570 as PM Papandreous speech was countered by critical remarks from ECBs Stark regarding the notion of a European rescue fund (EMF).
At some point we'll see Euro/usd at $1.27.
What would you do if you'ere running the show and knew eventually your currency(dollar) will collapse,make the best of it then it can dry up in to dust and blow away.
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What would you do if you'ere running the show and knew eventually your currency(dollar) will collapse,make the best of it then it can dry up in to dust and blow away.