Hi everybody, hope you are fine. The possible bankrupt of one of the biggest American banking institution, Lehman Brothers, known last Sunday, triggered a dollar sell all across the board, as market sentiment shifted against greenback, and in an eye blink market is discounting a short term rate cut instead of a rise, ahead of tomorrow’s FED meeting. Indeed, volatility is keeping market interesting these last two or three weeks, and seems it will continue this way.
In a side note, and despite turmoils, bankrupts or rates, majors have respected the technical longer term points postead last Trhusday particularly Euro and Pound, giving very good bounces from the zones suggested. Let’s see if the longer term view has changed: i will made both, long and short term posts in a few minutes.
These are the most relevant news, East Time, for the U.S.:
08:30 NY Empire State Index September (Expected 1.5 Previous 2.8)
09:15 Capacity Utilization August (Expected 79.6% Previous 79.8%)
09:15 Industrial Production August (Expected -0.3% Previous 0.2%)
Have a great trading day!
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