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U.S. Consumer Cofidence Falls and the Yen Continues Falling

Posted on February 24, 2009 at 11:09 in Commentary, Market Analysis by Tim Salem

 

Hi All !

Our final Update of the day brings us with no real surprises here…

U.S. Consumer Confidence clocks in with negative Sentiment at 25.0…clearly below Consensus…and Big Ben up on the Hill trying to put it all together!

“Woohoo!… We are saved now!” ,  the CVJ Guys say…

No response from me here…so let’s move on with our Update, shall we!   ;-)

 

Another look at Dollar Yen really says it all here on the Hourly…

While we have breached significant levels… a correction may be looming on the horizon, simply due to such a quick Bullish Momentum drive.

Give the Captures a Click, as always… and Post-Time is 16.00 GMT.

 

 

 

 

Euro, on the other hand, is now into a continuation/consolidation Mode after a nice Reversal off it’s recent Rally… and is ranging between the lower 1.27’s-1.28’s Areas.

 

 

 

Gold…. is in even more of a Consolidation Mode… as it continues with plenty of “Safe-Haven” Inflows overall.

We do have some Price correction taking place as of this writing… but this in no way invalidates the Appreciation we have seen of late… in my personal view.

 

 

 

Not too much Commentary for this pre-London/European Close and Bernanke on the Hill… as in these cases… we often see “muted” activity until the “Rhetoric” gets digested…. or simply ignored.

;-)

 

I will be back with you this evening, and we will see where we have progressed as we move into the Asian Session later in the day!

 

 

Tags: continuation, correlation, EUR/USD, euro, gold, Risk Aversion, safe haven, USD/JPY

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