Hello everybody hope you are fine. Alright, we have the rally, and we have the reversal yesterday, as major past trough important key levels, without blinking eyes, on fears triggered by a crude oil prices rise and more credit crisis in the U.S. Early this morning, news in Europe where mixed, with a bad reading in the Euro zone current account but a better than expected Industrial report, while in England the GDP fell more than expected, giving greenback a rebound with mixed results against most majors: short lived generally, except for Gbp that seems unable to regain ground. From the fundamental point of view, and for the rest of the day, eyes will be set on Ben Bernanke ’s speech at 10:00 am, East Time. In a longer term view, eyes will be set as always, on rates: who will rise/cut first? We are probably entering in a consolidation phase ahead of next month decisions.
I will be back in a few minutes with some technical. Have a great day!
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